A&O, CMS, McDermott lead on €5bn Telefonica Germany mobile purchase

Allen & Overy (A&O), CMS Hasche Sigle and McDermott Will & Emery have scored the leading roles on KPN’s proposed €5bn (£4.3bn) sale of a German mobile unit to O2 owner Telefonica. Telefonica’s German listed subsidiary Telefonica Deutschland Holding is set to take over E-Plus, the German business of Dutch telecoms company KPN, in a transaction that is expected to close by mid 2014. KPN would also receive a 17.6% stake in the subsidiary in the deal.

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