Schoenherr advises Tele2 on acquisition of Silver Server

Finalisation of the transaction is subject to merger control clearance. The purchase price is undisclosed.

Schoenherr supported Tele2 in the due diligence exercise, in drafting and negotiating the transactional documents and in the merger control proceeding.

Alexander Popp (partner): “Schoenherr has an impressive track record in the telecommunications sector and has developed substantial industry know-how in this area. We were able to benefit from this industry knowledge in this transaction.”

In Austria Tele2 is the biggest alternative Telecom full-range provider. Its product portfolio includes landline telephony, broadband internet services, and data services. The Tele2 group is one of the leading European alternative telecommunications providers, currently supplying products and services to 31 million customers in 11 countries. Listed since 1996 on the OMX Nordic Exchange, Tele2 group generated a turnover of SEK 40.2 billion (EUR 4.58 billion) in 2010.

The internet service provider Silver Server, headquartered in Vienna, was founded in 1994. The company has approximately 75 employees, serves around 8,000 customers across Austria, and is expected to generate a turnover of about EUR 11.5 million in 2011.

The Schoenherr M&A team included Alexander Popp (partner), Nidal Karaman (attorney at law), and Stefan Ruech (associate). The due diligence team included Thomas Kulnigg (attorney at law, finance), Wendelin Ettmayer (attorney at law, corporate and labour law), Constantin Benes (associate, real estate), Günther Leissler (attorney at law, regulatory), Michael Woller (attorney at law, IP) and Christian Schumacher (partner, IP). Christoph Haid (attorney at law) advised on the merger control proceeding.

The sellers were represented by Dr. Peter Winkler (Eisenberger & Herzog).