The entire deal is worth $3.05bn and marks STC's first international investment. International law firm Freshfields Bruckhaus Deringer advised STC on this transaction.
The Freshfields team was led by corporate partner Bruce Embley (Dubai) with intellectual property/information technology partners Connie Carnabucci (Hong Kong) and Natasha Good (London), with assistance in Dubai from Gerald Steinke, Walid Hegazy, Sarah Gingrich and Miriam Dorn.
Bruce Embley comments: "We are delighted to have been working with STC on this very important transaction which will expand their international footprint into Malaysia, India and Indonesia."
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Saudi Telecom Company buys Malaysian telecoms stake for USD3.05bn
- Saudi Arabia: Wednesday, June 27 - 2007 at 08:53
- PRESS RELEASE
Saudi Telecom Company (STC), Saudi Arabia's national telecommunications company, announced it has agreed to buy a 25 per cent stake in Maxis Communications Bhd, the leading Malaysian telecoms operator with a presence in India and Indonesia, plus a 51 per cent stake in Maxis' Indonesian operation, NTS.
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Notes and media contacts
For more information please contact:Bruce Embley, partner
T + 971 4 509 9160
Andrew Freeman, PR Manager
T +44 20 7427 3984
Freshfields Bruckhaus Deringer* is a leading international law firm providing a comprehensive worldwide service to national and multinational corporations, financial institutions and governments.
* 474 partners and principal consultants, 2509 total lawyers worldwide, 27 offices in 16 countries.
Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, June 27 - 2007 at 08:53 UAE local time (GMT+4)
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