New Internet Joint Venture for Asia
Noerr advises Rocket Internet on partnership with Telecom Group Ooredoo
The law firm Noerr LLP advised Rocket Internet on agreeing a strategic partnership with the listed Asian telecommunications provider Ooredoo Q.S.C. In the newly formed joint venture, Asia Internet Holding, Rocket and Ooredoo will, in the coming years, develop E-Commerce and other digital services for the entire Asian region as well as for Australia. Noerr advised Rocket comprehensively on the formation of Asia Internet Holding and on the partnership which has now been agreed. The Noerr team was led by the Berlin corporate partner Dr. Sascha Leske.
Rocket Internet is the world’s largest internet incubator and has created over 100 market leading companies in more than 50 countries worldwide. The joint venture partner Ooredoo has a wide customer base in Asia. In Indonesia alone – after China, the second largest Asian online market – over 60 million customers use the services of the telecommunications group which is registered in Qatar. Due to the strongly growing smart phone market in the region, the joint venture will also develop mobile E-Commerce services.
Asia Internet Holding concentrates on 15 markets in Asia. Among them, apart from Indonesia and Australia are Pakistan, Myanmar, Thailand, Malaysia, Singapore, Vietnam and the Philippines.
The joint venture is subject to the approval of the regulatory authorities in the target countries and is expected to be concluded in the second quarter 2014.
Noerr is among the leading law firms for Internet and E-Commerce and regularly advises clients including, apart from Rocket Internet, Deutsche Telekom AG and Insight Venture Partners.
Advisor Rocket Internet GmbH: Noerr LLP
Dr. Sascha Leske (Berlin, leading), Dr. Tobias Koppmann, Dr. Eckhart Schleifenbaum (both Munich, all corporate), Peter Stauber (Berlin, antitrust law)
Associates: Veronika Bartram (Berlin), Armin Bartsch, Adrian Dengler (both Munich), Dr. Roland Kühne (Berlin, all corporate), Dr. So-Ang Park (New York), Dr. Andrea Petsch, Florian Rosing (both Berlin), Steve Zehden (New York, all corporate)