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  • Hong Kong tax chief in conflict probe
    Wong Ho-Sang, head of Hong Kong's Inland Revenue Department, is being investigated for possible breaches of taxation law and civil service rules.
    June 30 1999
  • French CFCs face EU challenges
    France’s CFC rules were originally modelled on the US regime but revised tax treaties and EU directives have caused extra problems for French companies with CFCs. Patrick Dibout of Jeantet et Associés in Paris explains how government and taxpayers have reacted
    June 30 1999
  • Wal-Mart looks to Ernst & Young
    Ernst & Young and Simmons & Simmons are advising Wal-Mart Stores Inc, the world's largest retailer, on its £6.7 billion (S10.8 billion) bid for UK supermarket group Asda.
    June 30 1999
  • Weil Gotshal advises on Hicks Muse/Hillsdown deal
    Weil Gotshal & Manges is advising Hicks Muse Tate & Furst on its £822 million ($1.3 billion)bid for UK foods comapny Hillsdown Holdings. Hillsdown's brands include Typhoo tea, Cadbury's biscuits and HP canned foods.
    June 30 1999
  • McDermott Will handles RAG transaction
    McDermott Will & Emery is advising RAG International Mining on its acquisition of Cyprus Amax coal company. The deal is valued at $1.1 billion in cash and debt. Cyprus Amax Coal is one of the biggest coal mining companies in the US and has properties in Pennsylvania, Wyoming, Utah, Colorado and Illinois. RAG is a subsidiary of the German energy and technology company RAG Aktiengesellschaft.
    June 30 1999
  • MCI turns to Cravath
    Cravath Swaine & Moore is advising MCI WorldCom, the US's second-largest communications company on its acquisition of SkyTel, the wireless communications company. MCI will pay $1.8 billion for the company. The purchase will be made in stock and includes assumption of debt. The two companies have had business arrangements with each other for some time, and MCI WorldCom is the largest reseller of SkyTel services.
    June 30 1999
  • Debate rages over German secrecy
    Alexander Vögele of KPMG in Frankfurt challenges the conclusions reached by Thomas Borstell and Michael Prick (ITR April 1999) regarding the court decision banning the use of secret comparables, a decision that has provoked considerable controversy in Germany
    June 30 1999
  • Cravath Swaine & Moore advises GEC
    General Electric Company (GEC) in the UK, is buying Fore Systems, an Internet equipment supplier-based in Pittsburgh for $4.5 billion. GEC has already agreed to sell its defence business to British Aerospace, and is now concentrating on building up its telecoms and internet capability. The acquisition follows GEC's purchase of US telecoms company Reltec.
    May 31 1999
  • Skadden Arps in ICI/Huntsman deal
    Skadden Arps Slate Meagher and Flom is advising US chemical maker Huntsman on its acquisition of four businesses from its UK rival ICI. The transaction is worth over $2.7 billion. The acquisition will be made through a newly formed company, Huntsman ICI Holdings. ICI will hold a 30% stake in the company, and Huntsman a 70% stake.
    May 31 1999
  • UK seeks to end tax privilege
    UK companies may be forced to disclose their correspondence with their legal advisers, according to a ruling by an independent adjudicator of tax disputes.
    May 31 1999
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