Simmons & Simmons advises Saudi Telecommunication Group

Simmons & Simmons has advised the Saudi Telecommunication Group (stc) on its strategic partnership with the Greek telecoms and satellite applications company TTSA, Greece’s power utility Public Power Company (PPC) and the Cypriot telecoms operator CYTA, to develop a new sub-sea and terrestrial fibre optic cable system linking Europe with Asia.

The project supports the Kingdom of Saudi Arabia’s ambition to consolidate its position as a key global digital hub but also to help the digital eco system of Saudi Arabia rapidly mature. The transaction (which remains subject to customary closing conditions) was signed during the recent Greek visit of Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister of the Kingdom of Saudi Arabia.

The Simmons team was led by M&A partner James Coleman, with support from supervising associate Tikesha Keylock. The multi-disciplinary team comprised lawyers from Simmons’ Middle East, UK and Belgium offices, including TMT partner Raza Rizvi, competition partner Satyen Dhana and project finance partner Andrew Petry. They were assisted by Of Counsel Tina Blazques-Lopez, associates Mathieu Vancaillie and Olivia McKenzie and Paralegal Shweta Padmanabhan.

Commenting on the deal, James Coleman said: “We were privileged to have been able to act for stc on this complex cross-border transaction which in addition to furthering the digital strategy of Saudi Arabia will have a significant impact on role of Greece and Cyprus as key digital hubs. We congratulate stc and its new partners on achieving this milestone.”

Raza Rizvi, head of the firm’s regional TMT practice, added: “The digital enablement potential of this cable system is exciting. The enhanced management of high capacity and best in class data hosting capability reinforces the Kingdom as a natural venue for the most exciting emerging technology deployments.”