Top law firms drafted in on Phones4u deal
23rd September 2014
Three of the UK’s biggest law firms have been drafted in to oversee the Vodafone purchase of 140 stores from mobile phone retailer Phones4u. Multinational firms Linklaters, Allen & Overy and CMS Cameron McKenna are expected to advise on the deal as it was announced this week that Phones4u is to go into administration.
The individuals that will be making up the Linklaters team advising Vodafone include Richard Hodgson, who is to lead, Mark Burgess-Smith and Damien Gomez, who all hold top lawyer jobs at the firm. Conversely, Allen & Overy are due to be advising Phones4u and administrator PwC in the deal, while CMS is to act on the behalf of Phones4u’s security trustee ING Bank according to this article.
The news comes after Phones4u hit out at mobile network operators EE and Vodafone after they faced store closures reputed to be as a result of the two networks’ actions. In this latest development, both networks have pledged to buy stores, saving stores and jobs.
Image Credit: Ged Carroll (flickr.com)