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  • Banco Santander Central Hispano (BSCH) is to acquire Patagon.com, an Internet brokerage company, in a deal valued at $500 million. The online Miami company will increase BSCH's reach into Latin America, where Patagon.com has websites in all the major Spanish- and Portuguese-speaking countries.
  • The Commonwealth Bank of Australia announced last month that it intends to buy Colonial Limited for $5.7 billion. The combined group will be among Australia's market leaders for lending deposits and asset management. It will also become the country's third largest issuer of new life insurance premiums.
  • Fenwick & West and Davis Polk & Wardwell are advising on the largest merger involving a Silicon Valley company. The deal is VeriSign's acquisition of Network Solutions and is valued at $21 billion. The agreement was announced on March 7 and is also the second largest involving Internet companies.
  • Simmons & Simmons has been used as adviser on two of Hong Kong's largest recent deals, underlining its status in the market. In the first, the UK firm advised Pacific Century Cyberworks (PCCW) on its acquisition of Cable & Wireless HKT. The successful bid is one the largest takeovers in Asia with a value of $36 billion. Cable & Wireless owns a 54% stake in HKT. The merger will make PCCW the third largest company on the Hong Kong Stock Exchange.
  • US law firm Shearman & Sterling has hired a non-lawyer, Clinton Kendrick, to its executive board. The firm calls Kendrick "an international financial services executive and entrepreneur". He joins the firm from Matrix Global Investments, where he was CEO. The other members of the four-man board are: Stephen Volk, senior partner; Whitney Pidot, managing partner; and David Heleniak, European coordinator.
  • The regional partnerships of Australia's Freehill Hollingdale & Page voted at the start of March to adopt a single national partnership. The new arrangement will become effective as of July 1 of this year.
  • Tax relief for venture capital firms
  • The Trafford Centre in Manchester, one of the UK's largest shopping centres, has become the first of its kind in Europe to launch a securitization financing.
  • It's been a long time coming. In fact, it's taken longer to complete than any other syndication. But — at last — the financing agreements for Athens' new ring roads were signed in early March.
  • Telewest Communications and Flextech have announced that they intend to merge. The two companies have approximate market capitalizations of £10.1 billion ($16 billion) and £2.5 billion respectively.