ITR Search | International Tax Review

Teleglobe seeks out Goodman, Phillips & Vineberg

Teleglobe, the Canada-based telecommunications group has made a successful bid to acquire US competitor Excel Communications. The merged group will have assets of $6.8 billion.

June 30 1998

Alcatel-Alsthom seeks out Skadden, Arps

French telephone company Alcatel-Alsthom has agreed to buy DSC Communications, in a deal valued at $4.4 billion. DSC designs and manufactures systems for the telecommunications industry.

June 30 1998

US Treasury climbs down from Notice 98-11

The US Treasury has been forced to withdraw a controversial measure designed to close down tax planning opportunities exploited by multinationals. Internal Revenue Service Notice 98-35 withdraws Notice 98-11 and announces modifications to the rules on hybrid entities.

June 30 1998

North America: the stars line up

The stars are out in ITR’s fifth survey of North America. Sophisticated clients demanding round-the-clock access and better value add pressure to the tax adviser’s role. Oliver Ralph and Phillippa Cannon identify advisers who excel under pressure

June 30 1998

Manifattura Italiana Nonwoven SpA v Direzione Regionale delle Entrate per la Toscana

Does an annual tax on company assets, which is said to have effects which are economically equivalent to a capital duty, fall within the scope of Council Directive 69/335/EEC of 17 July 1969 concerning indirect taxes on the raising of capital, in so far as it takes account of the amount of a company's subscribed capital?

June 17 1998

Fuerzas Eléctricas de Catalunya SA (FECSA) v Tribunal Económico-Administrativo Regional de Catalunya (TEAR de Catalunya) Departament d'Economía i Finances de la Generalitat de Catalunya; Autopistas Concesionaria Española SA (ACESA) v Tribunal Económico-Administrativo Regional de Catalunya (TEAR de Catalunya) Departament d'Economía i Finances de la Generalitat de Catalunya

Council Directive 69/335/EEC of 17 July 1969 – indirect taxes on the raising of capital – imposition of an ad valorem duty on the issue of the document recording the repayment of a loan – interpretation – does the prohibition of taxes on loan documentation cover those concerning repayment?

June 10 1998

Daimler Benz and Chrysler look to US law firms

The merger of automobile groups Daimler Benz and Chrysler will create a combined group worth $92 billion. It has been estimated that legal and accounting advisers will earn up to $200 million from advising on the deal.

May 31 1998

Elan calls on Cahill, Gordon & Reindel

Elan Corporation, a specialist pharmaceuticals group based in Ireland, has made a successful £420 million ($700 million) bid for California-based pharmaceuticals company Neurex. The acquisition marks the company's first step into the US hospitals market. Elan is making the transformation from a research company to a drugs group.

May 31 1998

GEC turns to Cravath, Swaine & Moore

General Electric Company has made an agreed bid of $1.4 billion for Tracor, a Texas-based electronics company.

May 31 1998

Caja de Ahorros del Mediterraneo calls on Uria & Menendez

Caja de Ahorros del Mediterraneo, Spain's fifth-largest savings bank, has bought the Spanish operations of UK bank Abbey National. The deal is valued at £120 million ($195 million).

May 31 1998

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