by Toby Luckhurst

Argentina′s Estudio Beccar Varela and Davis Polk & Wardwell LLP in Paris, Madrid, Washington DC, New York and London have helped Telefónica issue shares worth US$3.4 billion in Madrid, Barcelona, Valencia and Bilbao, and internationally in London, New York, Buenos Aires and Lima.

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Telefónica has suffered recent problems in Argentina. In 2013, the mobile network operator faced an investigation for its bid to increase its stake in investment vehicle Telco, and so indirectly to increase control over its rival Telecom Italia. Pérez Alati, Grondona, Benites, Arntsen & Martínez de Hoz (h) advised Telecom Italia in Argentina, while Telefónica drew on Machado, Meyer, Sendacz e Opice Advogados in São Paulo.


- Latin Lawyer