* Vodafone banks to earn fees of $22-$27 mln -Freeman
* Advisers to Ono to be paid $28-$35 million -Freeman
* M&A activity in TMT sectors up 186 pct on-year
By Clare Hutchison
LONDON, March 17 Bankers working on Vodafone's
$10 billion deal to buy Spain's Ono could pocket up to
$62 million in advisory fees, according to an industry estimate,
the latest windfall for dealmakers in the technology, media and
telecom (TMT) sectors.
Vodafone Group Plc said on Tuesday it has agreed to
buy Spain's largest cable operator Ono, as the British group
rebuilds its European operations with a broadband offering.
Vodafone adviser Morgan Stanley and Robertson Robey
Associates, who assisted the company's board, will share fees of
between $22 and $27 million, Freeman Consulting, which tracks
bankers' fees, estimated.
Deutsche Bank, who acted as lead adviser for Ono
shareholders, will receive the lion's share of a $28 to $35
million fee pool. The remainder will be split with co-advisers
Bank of America Merrill Lynch, UBS and
TMT has been a particular bright spot for investment banks
so far this year, thanks to several high-profile deals including
Comcast's $45.2 billion takeover of Time Warner Cable
and Facebook's $19 billion acquisition of
messaging service WhatsApp. .
Year-to-date, global M&A activity in TMT is up 186 percent
to $266.9 billion based on 1,424 deals, compared with $93.2
billion over 1,589 deals a year earlier, Thomson Reuters data
Total worldwide M&A activity so far in 2014 is up 48 percent
t $627 billion, according to the data.
Fees earned by TMT bankers have risen accordingly, jumping
18 percent on a year ago to $893.9 million, Freeman estimated.
By contrast, fees earned by bankers across M&A are broadly flat
year-on-year at $4.3 billion.
Thomson Reuters data ranks Morgan Stanley as the top
investment bank in TMT M&A, having worked on deals worth $113
billion, including the pending Comcast and Facebook deals.
Goldman Sachs, an adviser to both Vivendi
and Numericable, which are now in exclusive talks over
telecoms unit SFR, takes second place.
Freeman estimates that the nine banks that worked with
Numericable could earn fees of between $43 million and $52
million. Those advising Vivendi, including Lazard and
BNP Paribas, could share between $51 million and $59
Goldman, the world's top deal adviser for nine of the past
10 years, has missed out on a number of 2014's largest mergers.