08:42, March 20 500 0

2017-03-20 08:42:12
Slaughters wins Vodafone India mandate in $23bn telecoms deal

Slaughter and May has won the lead role alongside three local firms on Vodafone India’s $23bn merger with rival telecoms company Idea.

Slaughters M&A head Roland Turnill is leading the firm’s team for Vodafone and its subsidiary Vodafone India.

The firm is working alongside New Delhi firm S&R Associates, with which it has a longstanding relationship. S&R partner Rachael Israel has been at the Indian-headquartered firm since 2006 and was a visiting lawyer to Slaughters in 2012.

Vodafone’s merger partner Idea sought legal advice from two local firms – Vaish Associates Advocates and Bharucha & Partners.

Under the terms of the agreement, Vodafone India will combine with Idea to create India’s largest telecoms operator.

Vodafone India will be deconsolidated by Vodafone and then described as a joint venture to reduce the company’s net debt by $8.2bn.

It will close during 2018.