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Vasco de Quiroga No 2121 4° Piso

Group tax director, Vodafone Group. Managing the tax function at one of the world's largest companies must, by any standards, be a tough job. But for Lynne Patmore, group tax director of Vodafone, a challenging environment is a sure recipe for job satisfaction

International law firm Clifford Chance has advised Wates City of London Properties plc on the £250 million ($355 million) disposal of four properties to Prudential.

British Gas (BG) shareholders have approved the demerger of its regulated Transco activities, together with BG's telecommunications ventures, under a new holding company, Lattice Group. The value of the transaction is estimated at £15 billion ($21.7 billion).

Davis Polk & Wardwell has advised Morgan Stanley Dean Witter and China International Capital Corporation on the $3.4 billion initial public offering of China Petroleum & Chemical Corporation (Sinopec Corp).

Weil, Gotshal & Manges has lured Kimberly Blanchard away from Torys to join its New York office as a tax partner. Blanchard formerly spent 17 years in the Haythe & Curley New York tax practice, where she remained following its merger with Tory, Tory, Deslauriers and Binnington last year.

Osborne Clarke has continued its expansion with the recruitment of two corporate tax partners. Michael Bell joins the Bristol office from Ernst and Young, while Stuart Long, previously at Barnett Alexander Chart, becomes the firm's first London tax partner.

Av Rio Branco, 1 - 14o A

The Chinese State Administration of Taxation (SAT) recently issued a circular regarding imposition of the business tax on a sale of software to Chinese entities by foreign businesses that do not have business establishments in China. Specifically, the circular provides that payments for such transfers will not be subject to business tax, regardless of whether the transfer is bundled with a sale of hardware, such as postal and communication equipment, or a computer. The circular further clarifies that separate payments for software transferred in connection with the lease of hardware to Chinese lessees will be treated as rent on which business tax will not be levied.

International law firm Allen & Overy is advising Nikko Principal Investment Limited (Nikko), the European private equity arm of Japanese broking house Nikko Securities, on its £507 million ($721million) bid for Powell Duffryn, the UK ports and engineering group.