Telefónica’s Acquisition of Stake in Telecom’s BrasilCel

On June 30, 2010, Telefónica SA announced the extension of its June 1, 2010 offer for the acquisition of 50% of Portugal Telecom’s stake in BrasilCel, for a consideration of €7.15 billion ($8.74 billion). Cravath is representing Telefónica as U.S. counsel in connection with this transaction.

The Cravath team included partners Richard Hall and David Mercado and associates Brandon R. DeFrehn and Jay D. Rao on corporate matters and partner Rory O. Millson on litigation matters.