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Matheson advised Three on €780 million acquisition of Telefonica Ireland

AUTHOR(S): Helen Kelly
PRACTICE AREA GROUP: EU, Competition and Regulatory, Corporate
DATE: 25.06.2013

Matheson advised Three Ireland on its €780 million acquisition of communication provider Telefónica Ireland Limited, which trades as O2 Ireland. (A further additional deferred payment of €70m is payable dependent upon achievement of agreed financial targets.)

Three Ireland is wholly-owned by Hutchison Whampoa Ltd, the Hong Kong based multinational conglomerate. O2 Ireland is part of Telefónica Europe, which is owned by Spanish-headquartered Telefónica S.A.

This acquisition is the latest in a series of high-profile euro transactions on which Matheson has advised this year and further highlights Matheson as the law firm of choice for international companies and financial institutions doing business in and through Ireland.

In May 2013, Matheson advised the US pharmaceutical firm Actavis Inc on its $5.1 billion acquisition of Dublin-based Warner Chilcott plc, which is expected to complete later this year. Matheson also advised Royalty Pharma on its $6.5 billion bid for Elan Corporation plc, the Irish biotechnology company.

Earlier this year, Matheson advised the Minister for Finance on the €1.3 billion sale of the country's biggest life and pensions provider Irish Life to Great-West Lifeco, and in 2012, Matheson advised Eaton Corporation plc on its $11.8 billion acquisition of Cooper Industries plc.

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