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Portrait ofAnne Chitan

Anne Chitan

Partner
Global Co-Head of Communications, TMC

Contact
CMS Cameron McKenna Nabarro Olswang LLP
Cannon Place
78 Cannon Street
London
EC4N 6AF
United Kingdom
Languages French, English, Dutch, German, Romanian

Anne is a partner in the Finance Group. Her practice covers various industry sectors with a main focus on telecoms, media and technology. Anne is also qualified project manager.

Anne started her career in the global loans department of Allen & Overy before joining Olswang where she advised on a wide variety of deals in the technology, media and telecommunications sectors including Sportech plc, euNetworks, Cityfibre, the Shine Group and various lenders.

Anne has advised senior lenders, junior lenders and borrowers. Her experience includes dealing with the financing of a large retail business in financial difficulty, the financial restructuring of real estate portfolios, the sale and refinancing of a hotels portfolio and advising on intercreditor issues.

In addition, Anne is a transaction project management specialist working on improving deal efficiency and profitability with budget and deal management tools and process efficiency through process management exercises. Anne holds the PRINCE 2 Practitioner qualification (PRINCE 2 is a structured project management methodology).

Beyond project management Anne has a keen interest in developing innovative ways of working and providing legal services including with new technologies (including AI) and is one of the Innovation Champions of the firm. Anne also attends the meeting of the All Parties Parliamentary Group in Artificial Intelligence.

Accolades include the following in the Legal 500 2016: “Anne Chitan understands the commercial risk areas of a deal and can be trusted to run a transaction”. Anne was further recommended in the Legal 500 2017 in derivatives and structured products.

Anne has won numerous awards. The latest being Finance Monthly Global Awards as Banking Adviser of the Year UK and Banking and Finance Lawyer of the Year UK for 2017, Top Real Estate Advisors of 2016 in AI Magazine, Lawyer Monthly: Women in Law award in 2014, 2015 and 2016, listed as a rising star and then as super lawyer in Super Lawyers Magazine in 2013, 2014 and 2015 and shortlisted for Finance Monthly Law Awards in the category of Banking and Finance UK in 2014 and 2015.

Internally Anne has won the prestigious scholarship offered by CMS to participate in 2018 to the Building on Talent course run by the IMD.

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'Anne Chitan understands the commercial risk areas of a deal and can be trusted to run a transaction’.

Legal 500 UK 2016

Relevant experience

  • 2 financings for multi Oscar winner special effects company Double Negative and 2 financings for its parent animation and special effects company Prime Focus.
  • 2 multi-jurisdictional refinancings of AIM listed Sportech plc.
  • Multi-jurisdictional financing and related refinancings of ex-Singapore listed euNetworks Group.
  • Financing of Cityfibre Limited including in relation to the KCOM acquisition.
  • Refinancing of a high profile Soho club.
  • Murabaha financing of nursery business.
  • Real estate investment facilities for shopping centres in England and Scotland representing an aggregate debt of just over £500,000,000.
  • Real estate development facility for major media and technology hub in East London.
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Publications

  • 2018 - “Electronic signature of documents” – LMA News, #1 
  • Dec 2016 - "Project management in private practice: law change in methodology can improve client's experience and recovery" – Butterworths Journal of International Banking and Financial Law
  • Dec 2015 - "In Practice – TMT Finance: Part IV" in collaboration with Charles Kerrigan and Ruth Marken – Butterworths Journal of International Banking and Financial Law
  • Sept 2015 - "In Practice - TMT Finance: Part III" in collaboration with Charles Kerrigan and Ruth Marken - Butterworths Journal of International Banking and Financial Law
  • June 2015 - "In Practice - TMT Finance: Part II" in collaboration with Charles Kerrigan and Ruth Marken - Butterworths Journal of International Banking and Financial Law
  • Sept 2013 - "Borrowing from a fund: 10 points to watch out for in LMA documentation" in collaboration with Charles Kerrigan - Butterworths Journal of International Banking and Financial Law, (Vol. 28 - No. 8)
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Education

  • 2017 - PRINCE 2 Practitioner qualification (Structured project management methodology)
  • 2002 - Master of Letters Thesis, Oxford University - The influence of the EC Treaty on Private International Law with particular reference to Unfair Competition
  • 2002    - Postgraduate Diploma in Law, Nottingham Law School
  • 2002 - Legal Practice Course, Nottingham Law School
  • 1998 - Diplome d’Etudes Approfondies, Sorbonne - Private International Law
  • 1997 - LLM King’s College, London - European Law and Human Rights
  • 1996 
    - undergraduate degree in French law at University Paris X
    - undergraduate degree in translation in English and German at the Institut Superieur d’ Interpretation et de Traduction (Paris)
  • 1995 - one year ERASMUS degree in Scottish Law, Edinburgh University
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Feed

31/01/2024
TMT World Congress 2024
CMS lawyers are pleased to be attending the TMT World Congress 2024 held in London on 31 January - 01 February.Below you can find an overview of our attending partners, representing a large range of jurisdictions and practice areas. To arrange a meeting, please contact the individual lawyers dir­ectly.Ad­di­tion­ally, Anne Chitan will moderate the M&A Panel - Assessing what’s next for Transactions amid Continued Macro Headwinds, Wednesday 31 January (10:55 – 11:35).At CMS, we have some of Europe’s leading legal specialists in the technology, media and communications sector. Our Digital Communications Infrastructure Team combines exceptional expertise in project and structured finance, competition regulation and large-scale investment, while our market-leading tele­com­mu­nic­a­tions team has decades of experience in the technology and communications space, including strong expertise in the areas of fibre, towers, subsea cables, network sharing, data centres and satellite.To find out more about CMS Digital Communications Infrastructure cap­ab­il­it­ies, vis­it our Digital Communications Infrastructure section.For further information, please see our partners attending the congress in the gallery below and an overview of all our expertise areas.
20/07/2023
5G: A reality check
If you were to ask the average citizen or business executive about 5G, they would probably tell you it’s been rolled out across most developed markets and making money. But this is not the case: deployment tends to be partial and patchy, and telcos are yet to see return on investment on the hundreds of billions of dollars that have been invested globally.In compiling this year’s edition of our 5G report, we spoke to legal and technology experts in over 50 markets to learn the true state of last-generation roll-outs across the world. We asked which technology companies are offering, whether consumers and industry can access it, whether it’s being monetised, where regulation stands, which spectrum is being used and how it’s being auctioned, how networks are being shared, whether network-specific cybersecurity measures are in place, and what each country’s positions are on Chinese network equipment.North America had the highest 5G penetration (41%) as of the end of 2022, according to Ericsson’s June 2023 Mobility Report. Behind that region were North East Asia (30%), the Gulf Cooperation Council (18%) and Western Europe (13%). By December, the vendor predicts that there will be 1.5 billion 5G subscriptions globally.In terms of number of 5G subscriptions, China is in the lead, with more than 60% of the world’s total (644m, versus 417m outside the country) as of the end of 2022.Other markets are home to technical quirks that are delaying 5G. In The Netherlands, for example, the 3.5 GHz band is not yet commercially available because NATO is operating a satellite 'listening station' with Inmarsat using the 3.4 and 3.8 GHz bands, and Inmarsat is using the 3.5GHz satellite traffic band to provide emergency communications to ships and aircrafts.The US and Canada dealt with interference between air traffic control systems and consumer 5G by setting up exclusion zones around airports. Spectrum rights - award and duration Spectrum rights have tended to cost far less than they did for 3G and 4G, because governments have recognised that high licence prices may have hampered investment.They are mainly awarded via tender or public auction, though in China, 5G licences are assigned directly to the four main telcos (China Mobile, China Unicom, China Telecom and China Broadnet).The duration varies across markets, from 15 (eg France) to 30 years (Chile) - often with five-year extensions.   Network and spectrum sharing agreements Network sharing agreements are already a priority in large countries with vast swathes of low population density regions that are expensive to connect. The US, like Africa before it, is seeing mobile as more efficient in rural areas than fixed-line (in this case fibre), which takes longer and is more expensive to deploy. T-Mobile, Verizon, and AT&T are offering separate Fixed Wireless Access (FWA) 5G services they hope will replace wired internet access in those areas.  According to Ericsson1, by 2028 more than 25% of global mobile data traffic will be through FWA, part of it with passive network sharing.In Australia, some state governments have proposed funding active network sharing initiatives in areas with low population density. For example, New South Wales’ Gig State programme includes a trial to fund the design and build of Multi-Operator Core Networks (MOCN), which enable active sharing between carriers. In the US, T-Mobile as part of its agreement to acquire Sprint, had to offer 5G network access to Dish, in a deal lasting until 2027. Standalone vs non-standalone As of January 2023, there were 229 commercial 5G networks, according to the GSMA. But in most countries, the majority of services sold as 5G are in fact non-standalone (NSA), meaning that the radio access network (RAN) is 5G, but the core network remains 4G.The Global Suppliers Association (GSA) says that 36 operators in 21 countries and territories have launched public standalone networks, while 111 operators in 52 countries are running trials, planned or actual deployments.In the meantime, the GSMA is forecasting that of the new 5G networks deployed in 2023, 15 will be standalone (SA). It noted that some operators have blamed the limited number of mobile devices that support standalone as a reason for delaying deployment.A notable exception is Singapore, whose telcos now all provide at least 50% outdoor coverage using standalone networks, with Singtel hitting 95% as of July 2022. Monetisation - consumer vs industrial Experts in almost all markets noted that telecom operators are yet to monetise 5G, especially in the consumer segment, where prices have remained the same as 4G. In Sweden, however, Telenor Sverige and Telia Sverige buck the trend, but offer enhanced benefits such as insurance, streaming services or more/unlimited data. Tele2 Sverige and Hi3G Access, for their part, have stopped offering new 4G subscriptions altogether. In Europe and Asia, the industrial segment is showing more promise thanks in part to government subsidies, though more time is needed to demonstrate use cases. Industrial 5G In most countries, it is telcos that are setting up industrial 5G, enabling private networks that connect specific areas such as factories and campuses. But starting this year, industrial companies in Sweden can apply directly for local licences to use radio transmitters in the 3.7 GHz and 26 GHz bands, enabling coverage in mines, harbours and hospitals. This year, the Spanish government announced it would reserve part of the 26 GHz band for direct award to industrial players, without the need for intermediation by telcos. The German Federal Network Agency has already allocated frequencies in the 3.7 to 3.8 GHz and 26 GHz bands for local 5G, meaning that more than 140 companies are now able to operate their own local networks.Network slicing, which enables multiple virtual networks to sit on top of a shared physical infrastructure, represents another way to offer differentiated services to enterprise clients across industries - though it requires SA 5G. However, because slicing uses software and virtualisation, telcos will both compete and partner with cloud providers. According to the GSMA, operators outside China have so far shown limited interest in slicing deployments due to concerns about return on investment. China The tech decoupling between the US and China has left other countries caught in the middle when it comes to selecting which companies will provide network equipment. Many European governments have signed up to the US ‘Clean Network’ initiative, with Portugal in May becoming the latest to show signs it will ban “high risk” vendors. Some countries like Brazil, Mexico and Turkey are remaining neutral, while others such as Bulgaria and Angola are entering into explicit partnerships with high risk vendors.In June, the Financial Times reported that the European Union was considering banning all member states from using equipment from companies that might present a security risk to 5G networks. Thierry Breton, Commissioner for Internal Markets, told telecom ministers he was disappointed that only one third of member states had banned high risk vendors from “critical parts” of 5G infrastructure, which risked “exposing the union’s collective security.” Germany was named as a key outlier. Conclusion By and large, most countries covered in the survey appear committed to launching 5G, but progress has been slower than hoped due to factors including Covid, regulatory delays, and high costs for operators whose investors want to see return on investment. Governments appear to be trying to ease the way by lowering spectrum costs and removing some red tape, while telcos generally aren’t charging customers more for 5G than 4G. As roll-outs continue, and providers upgrade core networks to proper 5G, it is likely that telcos will continue the trend towards seeking outside investment by selling off infrastructure and sharing networks.The GSMA estimates that there are 400 million people who lack access to mobile broadband. Looking ahead, it is unclear how the expected launch of mobile satellite services (MSS) by the likes of Starlink, Kuiper, Vodafone+AST Space Mobile, and Orange+OneWeb will impact the deployment and profitability of the 5G networks in less populated areas. It is possible that 5G operators could face hurdles to monetising rural networks, which are part of their coverage obligations, depending on the level of competition from MSS service providers.Based on our conversations with clients, we see 5G as an example of a long-term investment subject to the short-term technological and commercial landscape and other challenges. In future, there will be a range of competing technologies: optical fibre, Wi-Fi7 and SA 5G (with network slicing) in populated areas, and a mixture of SA 5G, FWA and satellite mobile services in rural areas.All of them will serve both humans - and increasingly, IoT.SA 5G will become not just a way for individuals to communicate, but an environment for digital ecosystems housed in different network slices.In all scenarios, these technologies will have to co-exist and cooperate, providing the fullest service to the client - now, and as we head towards 6G. 1 Eric­sson: https://www.ericsson.com/en/reports-and-papers/mobility-report/dataforecasts/mobile-traffic-forecast?gclid=EAIaIQobChMI5Y-qzby-_wIVQwgGAB3ZyAOVEAAYASAAEgI08PD_BwE&gclsrc=aw.dsSee also ht­tps://www.eric­sson.com/4a9aa7/as­sets/loc­al/cases/cus­tom­er-cases/2022/us­cel­lu­lar-bridging-di­git­al-di­vide.pdf.
18/05/2023
CMS Expert Guide to 5G regulation and law
At the start of a New Year, most people agree that 5G will change our lives for the better. Unlike earlier mobile generations, 5G will not only mark a radical change in the way we communicate (low latency...
Comparable
15/09/2022
CMS advises Foresight on second Lightning Fibre investment
International law firm CMS has advised leading infrastructure and SME investment manager Foresight Group on its follow on investment into Lightning Fibre, a community minded and full fibre network operator...
30/11/2021
TMT World Congress 2021
CMS is delighted to be back at the in-person TMT World Congress 2021. Our digital communications infrastructure team looks forward to connecting and re-connecting with you and other key leaders from...
05/05/2021
CMS advises Macquarie Capital on the acquisition of rural fibre optic assets...
International law firm CMS advised investment fund Macquarie Capital as main investor, together with Daiwa Energy & Infrastructure and Aberdeen Standard Investments, on the acquisition of a majority...
19/04/2021
New investment models for telecoms infrastructure
Out of the turbulence of 2020, one sector is emerging rejuvenated – telecoms. The new mega deals, especially when it comes to digital infrastructure, attest to it. This is the acceleration of a trend, rather than a new phenomenon. If anything, lockdowns imposed to handle the COVID-19 pandemic have only served to accelerate demand.
17/03/2021
The Mobile Century: The Future Reimagined
A publication of the Global Telecom Women’s Network
04/03/2021
The Mobile Century 2021: The Future Reimagined
Presented by: CMS is delighted to be supporting the Global Telecom Women’s Network (GTWN) as sponsor of the publication of its annual magazine, The Mobile Century, which will be released on 4 March...
07/12/2020
Top 5 take aways from recent fibre roll out financing transactions
The last three years have seen a large amount of activity in the telecoms infrastructure market in the UK, boosted by the rise and energy of alternative network providers (the “altnets”). However...
04/11/2020
The Law Commission’s Statement of Law: Execution with an electronic signature...
The COVID-19 pandemic has made the in-per­son sign­ing of deeds and documents impractical and created a nation of ‘remote’ work­ers.Mer­cury-com­pli­ant ‘virtual signings’ (where the signature page...
04/11/2020
Electronic Signatures & E-Signing Platforms
Some process changes aren’t glamorous or exciting, but can save costs, drive improved compliance and auditability and simply make what would otherwise be time-consuming tasks much easier. The adoption...