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Bakers and Clutz advise on mega Optus deal
Baker & McKenzie and Clayton Utz have advised on a $230 million acquisition by Optus.
Digital
Firms: Baker & McKenzie (Optus), Clayton Utz (Seven)
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Deal: Optus acquires Seven Group's wireless broadband business
Value: $230 million
Area: Media
Key players: Bakers partners James Halliday and Rodney Stone advised Optus on the transaction while media partner Kate Jordan led the Clayton Utz team which included corporate partner Rod Halstead and competition partner Linda Evans
Deal significance: The companies announced on Monday (20 February) that Optus would buy 100 per cent of Seven's Vividwireless and acquire the operating business, customer base, spectrum license and 4G network. Through the purchase, Optus will gain access to up to 98MHz of spectrum in the 2.3GHz band. "This deal contained several unique elements, and will allow Optus to continue to deploy its cutting edge 4G technology," Halliday said. Seven Group chief executive Peter Gammell said Vividwireless would be better able to deploy its 4G wireless broadband services under Optus than might otherwise be the case.
