Shearman & Sterling advised holding companies owned by Xavier Niel, founder and main shareholder of Iliad (Free), on the structuring and financing of the acquisition of Orange Communications SA (Orange Switzerland) from funds managed by Apax Partners for an enterprise value of 2.8 billion Swiss francs.

This acquisition, issued on December 18, 2014, was completed following the approval of the Swiss Federal Communications Commission.

The Shearman & Sterling team included partners Arnaud Fromion (Paris-Finance), Jacques McChesney (London-Capital Markets), and Peter Hayes (London-Finance); counsel Rebecca Marques (London-Capital Markets) and Simon Letherman (London-Tax); and associates Adrien Paturaud (Paris-Finance), Jackson Lam (London-Finance), Claire Hunter (London-Finance), Arthur Ravignon (London-Capital Markets), Elena Dzhurova (London-Capital Markets) and Gabriel Ng (London-Tax).