Bird & Bird advises Alternative Networks on AIM flotation

07 March 2005

International law firm Bird & Bird, has been advising Alternative Networks plc, one of the UK’s leading telecommunications resellers, on its placing and admission to AIM which has valued the group at more than £40 million.

The placing by Investec, helped raise more than £10 million including £4 million of new money for the company and was heavily oversubscribed. Alternative Networks provides a broad portfolio of communications products including mobile, fixed line and data products to UK SME and small corporate customers. The placing will enable the company to pursue its growth strategy in the UK.

Bird & Bird corporate partner Neil Blundell led the team with assistance from senior assistant Sarah Sommer.

Commenting Neil Blundell said:

“We have acted for Alternative Networks for a number of years and were delighted to be involved in this significant step for them. They join our growing stable of listed company clients for whom we are now doing corporate work”.

DLA Piper Rudnick Gray Cary advised Investec (Charles Severs, partner, Graham Goss, assistant).

For more information on, please contact Neil Blundell on +44 20 7415 6000 or Larry Cattle on +44 20 7415 6156.