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  • Norton Rose is advising Wanadoo and France Télécom on Wanadoo's £1.65 billion ($2.65 billion) share offer for Freeserve.
  • Linklaters & Alliance has advised J Sainsbury on its disposal of Homebase, the sale and leaseback by Homebase to Sainsbury's of a portfolio of properties and the £30 million ($43.6 million) re-investment by Sainsbury's in Homebase. The deal is valued at £969 million.
  • As Ernst & Young snaps up the pick of the law firm practitioners, questions arise over the relevance of the law firm model to international tax work
  • 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.