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Ferrere Lamaison counsels on setting-up of investment fund
Ferrere Lamaison counsels on setting-up of investment fund

Ferrere Lamaison counsels on setting-up of investment fund

01 June 2001

Ferrere Lamaison was chosen by ABN AMRO to act as counsel in the setting-up of an investment fund based on loans granted by the Banco Hipotecario del Uruguay (BHU).

Uruguay's new competition regulations
Uruguay's new competition regulations

Uruguay's new competition regulations

01 June 2001

Under new Uruguayan antitrust legislation, there are no pre- or post-merger notification requirements, and no duty to notify.

Merger mania hits Uruguayan pension funds
Merger mania hits Uruguayan pension funds

Merger mania hits Uruguayan pension funds

25 May 2001

Capital Afap SA and Unión Afap SA, two leading players in Uruguay's pensions market, have announced their impending merger. It is the first ever deal between Uruguayan pension fund administrators.

IRS certifies Uruguay over KYC
IRS certifies Uruguay over KYC

IRS certifies Uruguay over KYC

23 March 2001

The US Internal Revenue Service has announced that it has designated Uruguay a "qualified or eligible jurisdiction" in connection with the ‘know your customer’ (KYC) practices followed by local banks.

Free competition for Uruguay's telecoms market
Free competition for Uruguay's telecoms market

Free competition for Uruguay's telecoms market

02 March 2001

Uruguay has passed a new law abolishing the state monopoly over telecommunications services and creating a watchdog for the telecoms sector.

New Uruguayan antitrust regulation is expected to be approved by the Executive
New Uruguayan antitrust regulation is expected to be approved by the Executive

New Uruguayan antitrust regulation is expected to be approved by the Executive

09 February 2001

The Parliament has passed a Budget Bill (‘the Bill’), yet to be approved by the Executive, which widens the antitrust provisions of Act No. 17,243 which the Uruguayan Parliament passed on June 29, 2000, and which included a brief antitrust provision (recently published on Latin Lawyer’s website).

Modification of legal regime governing cable television services to enable foreigners to become licensees.
Modification of legal regime governing cable television services to enable foreigners to become licensees.

Modification of legal regime governing cable television services to enable foreigners to become licensees.

08 January 2001

On December 29 2000, by Executive Order No. 400/00, which was published in the Official Gazette on January 8 2001, the Uruguayan Government changed the legal regime regarding the requirements for becoming a licensee for the provision of cable television services.

US$115 million financing granted to Uruguayan state-owned oil company (ANCAP)
US$115 million financing granted to Uruguayan state-owned oil company (ANCAP)

US$115 million financing granted to Uruguayan state-owned oil company (ANCAP)

29 December 2000

Shearman & Sterling and Guyer & Regules advised the lead arrangers in the seven-year financing, which concluded on December 29.

Bond issue offered by Uruguayan government reflects Chilean economic performance
Bond issue offered by Uruguayan government reflects Chilean economic performance

Bond issue offered by Uruguayan government reflects Chilean economic performance

29 November 2000

Carey & Cía, Shearman & Sterling and Guyer & Regules advised the underwriter in the November 29 issue of Ch$80 billion (US$140 million).

ANTEL's exclusivity restricted to 'basic telephony'
ANTEL's exclusivity restricted to 'basic telephony'

ANTEL's exclusivity restricted to 'basic telephony'

20 October 2000

On October 20, 2000, Uruguay's House of Deputies approved a bill which, among other things, restricts the scope of ANTEL's exclusivity to 'basic telephony', defined as local traffic effected through fixed telephones.