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  • Davis Polk & Wardwell is advising AES Corporation on its acquisition, with EDF International, of a controlling interest in Light Servicos de Electricidade from Companhia Siderúrgica Nacional (CSN) and Reliant Energy Inc.
  • Linklaters has advised Vodafone Group on its acquisition of Eircell mobile phone business from Eircom. The deal was conducted by means of a demerger and a subsequent recommended offer and the transaction is valued at approximately £4 billion ($5.8 billion).
  • The most radical Russian tax reform in 10 years is now in effect. The 13% flat tax rate, announced in July 2000, came into force at the beginning of January.
  • Tighter documentation requirements are the essence of Germany's new draft transfer pricing regulations. There are major risks, but also double rewards for taxpayers who respond in timely fashion. By Alexander Vögele and William Bader for KPMG, Frankfurt
  • Freshfields Bruckhaus Deringer senior tax partner, Dick Hofland, has moved from Amsterdam to London with a view to strengthening the firm's Dutch tax practice in London. Hofland joins Dutch tax lawyer, Eelco van der Stok, who has been working with the London tax group since early 2000. The team will be part of the London tax group, and will continue to work closely with the corporate and finance groups and with the Dutch tax practice in Amsterdam.
  • Linklaters & Alliance is expanding its presence in eastern Europe, hiring two Dutch partners to establish a tax practice in Prague.
  • UK law firm Lovells has acted on the demerger of Compass Hospitality from Granada Compass. The demerger is the final stage of the transformation of Granada from a media and hospitality group to a pure media company.
  • José Palacios, Garrigues & Andersen, Madrid
  • Peter Cussons Hopes for EU tax harmonization suffered a knock-back at the EU summit in Nice. Delegates at the December 2000 meeting blocked calls to drop the national veto on tax and social security.
  • Partners of Dutch firm Ekelmans Den Hollander and international law firm, Lovells, have voted to merge. The combined firm will be known worldwide as Lovells.