Jefferies sues former client over unpaid fees

Gavel

Investment bank Jefferies has sued a former client for about $8m in unpaid fees linked to Vodafone Group’s multi-billion-dollar takeover of Spanish cable operator Grupo Corporativo Ono SA.

Bloomberg News reports that Val Telecomunicaciones SL hired the bank in August 2013 to explore options for its 5.4% stake in Ono, according to documents filed by Jefferies in London and made available last week.

Val denies owing anything because it was obliged to sell its stake under 'drag along' rules after a majority of Ono shareholders accepted Vodafone’s offer in March 2014.

To access the complete Bloomberg News article hit the link below:

Jefferies Sues Spanish Investor for $8 Million Unpaid Fees

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