Bird & Bird Acts on First Italian AIM Placing

15 June 2004

International law firm Bird & Bird has advised new client Daniel Stewart & Co plc on their placing of Italian telecommunications operator Teleunit and its admission to the AIM Market of the London Stock Exchange. Teleunit is the first Italian company to obtain a primary listing in London.

A team of Italian and UK lawyers from Bird & Bird advised Daniel Stewart & Co plc on all aspects of the placing. Partners Matt Dennis and Chris Barrett in London led the work with assistance from Sarah Sommer and in Milan, partner Alberto Salvadè led the team there with assistance from Stefano Febbi and Maurizio Ragno. The placing raised €15 million for Teleunit, giving it a market capitalisation of around €40 million.

Commenting, Ruari McGirr from Daniel Stewart said:

“This is the first time we have used Bird & Bird, and we were delighted with them. They advised us in both London and Milan and in addition to their sound corporate advice they have an in-depth knowledge of the telecommunications sector. They were very helpful throughout this deal”.

Matt Dennis added:

“There is no doubt that having a good understanding of the industry sector helped us on this placing. We were very pleased to have been invited by Daniel Stewart to act on this corporate finance deal”.

For more information on this please contact Matt Dennis on +44 (0) 20 7415 6000 or Larry Cattle on + 44 (0) 20 7415 6156.