According to several sources, S&R Associates partner Rajat Sethi and UK firm Slaughter and May partner Susannah Macknay have been advising Vodafone on its long-awaited Rs 80,000 crore ($12.2bn) merger with Idea, which was formally announced today.

Vodafone was also assisted on tax advice by long-standing legal advisers DMD Advocates and consultancy E&Y.

Shardul Amarchand Mangaldas partner Pallavi Shroff and partner Shweta Shroff assisted on competition law aspects on the deal for Vodafone.

Idea Cellular was advised by Vaish Associates partner Bomi Daruwala with principal associate Krishna Kishore, principal associate Amitjivan Joshi, and principal associate Yatin Narang.

Idea drafted in Bharucha & Partners partner Alka Bharucha with senior associates Ayesha Bharucha, Swathi Girimaji and Harshil Dalal on due diligence aspects of the deal.

Idea was also assisted on competition law aspects by AZB & Partners partner Nisha Kaur Uberoi and senior associate Soumya Hariharan.

The Sethi-led S&R team also included Tanya Aggarwal, Rachael Israel, Shivaji Bhattacharya, Lakshmi Pradeep, Raya Hazarika, Meher Mehta, Anita Srinivasan, Tarinee Sudan and Sushmita Sur on the corporate and regulatory side, and Simran Dhir and Natasha Aggarwal on competition law issues.

Bharucha has been a long-standing adviser of Idea’s, and S&R too has acted on Vodafone M&A in the past.

Story developing, continually updating with additional advisers and team names as firms release those.

This deal report may be only partially complete, and may therefore have details of some advisers missing. If you are or know one of the lawyers who acted on this deal but has not been credited, please send us a brief email at and we will update the report.

Moneycontrol reported today:

Idea Cellular on Monday announced that its board has approved the merger of Vodafone India and its wholly-owned subsidiary Vodafone Mobile Services Limited with itself in the process creating the country’s largest telecom entity.

According to a report by broking firm CLSA in January, the merged entity will have revenues of over Rs 80,000 crore, giving it a 43 percent market share by revenues and a 40 percent market share by active subscriber base. The behemoth will account for over 25 percent of allocated spectrum and will have to sell about 1 percent to comply with spectrum cap norms.

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Like +18 Object -0 SZN 20 Mar 17, 10:58  interesting  top rated
This deal shows the Indian legal landscape has changed:
A) all aspects of a deal dont go to a single firm.
B) size of firm is irrelevant: S&R and Vaish are fairly small size firms and not in the top 6. Rajat Sethi and Bomi Daruwalla shatter glass ceilings.
C) Clients realise value of specialisation. Competition law is not an add on service to corporate anymore. Nisha Uberoi and Swetha Shroff must be dancing witht delight.
D) You can no longer take a client for granted. Service is all that will matter.
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Like +1 Object -0 Henry Paulson 20 Mar 17, 11:55
This is an exception to the norm
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Like +0 Object -2 Birla 20 Mar 17, 12:19
Why was slaughter and May involved?
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3.1
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Like +0 Object -1 kianganz 20 Mar 17, 12:28
Vodafone topco plc is British, no?
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3.1.1
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Like +0 Object -0 Wow 20 Mar 17, 12:58
The details of the advisors is in the disclosure to the stock exchange so why are you saying sources?
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Like +0 Object -0 kianganz 20 Mar 17, 14:10
Ah, thanks, wasn't aware that some of the firms were published in Voda's announcement:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VOD/13163570.html

However, several advisers (and partner names) mentioned in our story were not included in the Vodafone release, so that's still based on several of our sources.
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3.1.1.1...
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Like +3 Object -0 Guest 21 Mar 17, 11:26
This has no mention of SAM - have they just sneaked themselves without an actual role?
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Like +0 Object -0 wondering... 20 Mar 17, 14:10
Thought both Deloitte and EY were involved on the due diligence for Vodafone...Kian?
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Like +2 Object -0 Guest 20 Mar 17, 15:27
No CAM? Wasn't ABG group a long standing client of CAM?
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5.1
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Like +1 Object -0 Answer 20 Mar 17, 18:01
CAM would have drawn up the necessary paperwork to bring Kotak Investment Bank on board. For sure!
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Like +0 Object -2 Trin Trin 21 Mar 17, 20:04
conflicted
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5.2.1
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Like +0 Object -0 Pring pring 21 Mar 17, 23:14
Say what?! ROTFL.
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Like +1 Object -1 Associates Kahan 21 Mar 17, 11:57
Was this transaction so run of the mill, that these firms didn't need assistance from associates at all?

If that's not true, then please also report the associates who were working on it. A fair request!
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Like +0 Object -0 Bar N B 21 Mar 17, 14:27
The associates are all listed on Bar and Bench!
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6.1.1
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Like +1 Object -1 No 21 Mar 17, 17:51
You just wasted 2 minutes of my life I'll never get back. Bar n bench just has a bunch of SAM associates (but not one matters there anyway unless your surname fits).
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Like +0 Object -0 KayCo 21 Mar 17, 12:18
No mention of KCO either?!
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Like +0 Object -0 Guest 21 Mar 17, 18:24
was KCO involved in the deal?
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Like +0 Object -1 Hey Kian 21 Mar 17, 16:18
A&O advised Idea Cellular.
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Like +0 Object -0 Insider 21 Mar 17, 18:26
@Kian: Rajat,Tanya and Rachael were the partners on this transaction.
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Like +0 Object -0 Associates only 21 Mar 17, 20:24
Only SAM, AZB, Bharucha and Vaish have mentioned their associates. The rest have kept it lean by mentioning relevant partners.
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Like +0 Object -0 kianganz 21 Mar 17, 20:34
We have received press releases or confirmations of lawyers involved so far from Vaish, AZB, S&R and Bharuchas.

SAM has not yet sent out a press release, I believe.
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Like +1 Object -2 wah wah 21 Mar 17, 22:09
9.1 - whoever u r, that was quite subtle and under the belt. even kg missed moderating it..
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Like +1 Object -0 kianganz 21 Mar 17, 22:15
Haha, maybe you're right, though if it's a dig it's so subtle I'm having a hard time figuring out what it's getting at exactly, even now ;)
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