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  • The lease rental securitization for London's Canary Wharf closed on June 6. Allen & Overy acted for Schroder Salomon Smith Barney, the arranger and joint lead manager, and Clifford Chance acted for Canary Wharf in structuring and documenting the £975 million ($1.47 billion) deal.
  • The internet is opening up a new world of opportunities for international tax planning and putting a premium on specialist advice
  • Hamburg's comdirect bank AG, the online banking subsidiary of Commerzbank AG, is to issue an initial public offering of euro790 million ($753 million) in bearer shares. Comdirect is the largest online broker in Europe. The shares were listed on the Neuer Markt segment of the Frankfurt Stock Exchange.
  • Lucent Technologies has bought optical networking company Chromatis Networks for $4.5 billion. The acquisition of Chromatis will enable Lucent to bring the bandwidth-expanding power of optical technology directly to its business customers.
  • Corporate taxation – stock options
  • The OECD's list of 35 tax havens and a potential 47 more that are "potentially harmful" has elicited a strong response from some jurisdictions, while Bermuda, the Cayman Islands, Cyprus, Malta, Mauritius and San Marino have escaped the list by making advance commitments to eliminate harmful tax practices.
  • Despite a buoyant domestic economy, Turkey's double-digit inflation and soaring interest rates previously deterred potential market entrants. A new policy package aims to change all that. Ibrahim Tutar of PricewaterhouseCoopers, Istanbul reviews the incentives
  • The Océ Van der Grinten case reopens the debate on the interaction of the EU Parent-Subsidiary Directive with the UK-Netherlands double tax treaty. Sabina Comis and Eelco van der Stok, from Freshfields London and Amsterdam, discuss the case and its implications
  • PricewaterhouseCoopers (PwC) is to launch a portal that will transform the entire organisation into an e-business and provide a sophisticated workspace for clients and staff alike.