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South American regional conference

German firm Pünder, Volhard, Weber & Axster looks set to develop a UK finance practice by appointing senior UK banking and finance lawyers in Frankfurt and Düsseldorf. Recruitment advertisements offering partnership and senior assistant positions in a large German practice with international offices have appeared in the UK press with consultants sworn to secrecy. Rumours that Germany's other financial heavyweights Bruckhaus Westrick Stegemann and Hengeler Mueller Weitzel Wirtz were in the market have been denied, but at Pünder, where there are already US and UK lawyers, partner Kersten von Schenk does not deny that moves are underway. "At this stage I have no comments to make," says von Schenk.

Although small in volume compared with fixed-income and equity products, the market for emerging markets OTC derivative instruments looks set to grow. Ovidio E Diaz Espino, of J P Morgan & Co, looks at the products available and the obstacles they still face

The Swiss Admission Board has published guidelines for issuers on disclosure requirements relating to new price-sensitive information. By Urs Schenker of Baker & McKenzie, Zurich

Competition is intensifying in the emerging markets of south-east Asia. Law firms are working hard to keep up with the growth and development of the economies. Paul Lee reports

The latest offshore exchange to open will be of particular interest to mutual funds formed but not listed in the Caribbean tax-free jurisdiction. By Chris Narborough and Andrew Kidd of Truman Bodden & Company, Grand Cayman

Susanna Beltramo and Marina Savastano of Studio Legale Beltramo, Rome, look at the latest update to Italian legislation on real estate funds and Fabio Brunelli of Studio Di Tanno, Rome, looks at the tax aspects

The adoption of a new Regulation M on issue-related market activities should facilitate cross-border capital raisings. By Richard Muglia and Joel Roberto of Skadden, Arps, Slate, Meagher & Flom LLP, London

The Commission announced on January 22 1997 that it had cleared the acquisition by Coca-Cola Enterprises Ltd (CCE) of the whole of the share capital of Amalgamated Beverages Great Britain Ltd (ABGB), and its wholy-owned subsidiary Coca-Cola and Schweppes Beverages (CCSB), from Cadbury-Schweppes (CS) and CCE's parent company The Coca-Cola Company (TCCC). CCSB was established in the UK in 1987 to bottle and sell a range of soft drinks, including Coca-Cola, Schweppes, Fanta, Sprite and Canada Dry. The purchaser, CCE, is the world's largest bottler of Coca-Cola products.

On July 1 1993, Sweden enacted new competition legislation. The Swedish Competition Act broadly conforms to the rules applying in the EU under the Treaty of Rome. As for notification of acquisitions, the Competition Act provides that the acquisition of a company or business (the object) in Sweden must be notified to the Swedish competition authority, Konkurrensverket, if the aggregate turnover of the purchaser and the object exceeds Skr4 billion (US$542 million) during the preceding business year. If the purchaser belongs to a group, the aggregate turnover of the entire group will be decisive when establishing the purchaser's turnover.