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5G

5G is not just another G. It‘s a different model – not only connecting people, but creating  business environments and new opportunities for revenue growth. These opportunities come with legal challenges. Additionally, huge investments need to be made to realise 5G’s potential in the coming years. 

Named 2019 Legal Advisor of the Year at the TMT Finance M&A Awards, CMS guides network operators, infrastructure providers, their clients, investors and financiers through their 5G and digital communications infrastructure journey to help them prepare for what may be coming around the corner. 

Please explore our 5G guide which explores over 30 countries, 5G vision videos, and get in touch if you would like to speak with any of our lawyers. 

26/10/2021
5G vis­ion video series
A video series on the de­ploy­ment of 5G across the world
CMS Ex­pert Guide to 5G
A glob­al over­view
31/05/2021
CMS Net­work Shar­ing 4.5
On the brink of a new gen­er­a­tion

Authors

Portrait of Javier Torre de Silva
Javier Torre de Silva
Madrid
Portrait of Anne Chitan
Anne Chitan
London
Portrait of Chris Watson
Chris Watson
London

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01/06/2022
CMS Next
What’s next? In a world of ever-ac­cel­er­at­ing change, stay­ing ahead of the curve and know­ing what’s next for your busi­ness or sec­tor is es­sen­tial.At CMS, we see ourselves not only as your leg­al ad­visers but also as your busi­ness part­ners. We work to­geth­er with you to not only re­solve cur­rent is­sues but to an­ti­cip­ate fu­ture chal­lenges and in­nov­ate to meet them.With our latest pub­lic­a­tion, CMS Next, our ex­perts will reg­u­larly of­fer you in­sights in­to and fresh per­spect­ives on a range of is­sues that busi­nesses have to deal with – from ESG agen­das to re­struc­tur­ing after the pan­dem­ic or fa­cing the di­git­al trans­form­a­tion. We will also share with you more about the work that we are do­ing for our cli­ents, help­ing them in­nov­ate, grow and mit­ig­ate risk.To be able to provide you with the best sup­port, we im­merse ourselves in your world to un­der­stand your leg­al needs and chal­lenges. However, it is equally im­port­ant that you know who we are and how we can work with you. So, we in­vite you to meet our ex­perts and catch a glimpse of what is hap­pen­ing in­side CMS.En­joy read­ing this pub­lic­a­tion, which we will up­date reg­u­larly with new con­tent.CMS Ex­ec­ut­ive Team
10/01/2022
Tech­no­logy: a uni­fy­ing force
Com­pan­ies of­ten talk about the scourge of the silo, the farm­ing stor­age meta­phor that has come to rep­res­ent teams or de­part­ments that op­er­ate on their own. However, with tech­no­logy trans­form­ing vir­tu­ally every in­dustry on the plan­et, col­lab­or­a­tion across sec­tors has be­come es­sen­tial. Ad­di­tion­ally, the COV­ID-19 crisis has high­lighted the cru­cial role tech­no­logy, spe­cific­ally con­nectiv­ity, plays as the back­bone of our busi­ness world across all sec­tors, and once COV­ID-19 is brought un­der con­trol or even erad­ic­ated, it will prove es­sen­tial for so­cial and eco­nom­ic prosper­ity. For­ging links in di­git­al in­fra­struc­ture pro­jects Jonath­an Dames, a part­ner at CMS in Lon­don, says that his team’s prac­tice tra­di­tion­ally centred on so­cial and eco­nom­ic in­fra­struc­ture and en­ergy fin­ance, but is in­creas­ingly shift­ing to­wards di­git­al in­fra­struc­ture pro­jects, in­clud­ing fibre net­works and data centres.He says that these kinds of pro­jects re­quire close col­lab­or­a­tion between tra­di­tion­al pro­jects and pro­ject fin­ance law­yers and their col­leagues in Tech­no­logy, Me­dia & Com­mu­nic­a­tions (TMC), “We al­ways had cros­sov­er, and en­joyed great col­lab­or­a­tion with both the In­fra­struc­ture & Pro­jects and En­ergy Sec­tor Groups, for ex­ample, but now we are work­ing with the TMC Sec­tor Group much more closely be­cause we are fa­cing reg­u­lat­ory is­sues and re­gimes that we have nev­er faced be­fore such as Code Powers, the re­quire­ments of the Com­mu­nic­a­tions Act and re­lated le­gis­la­tion.“CMS has ex­tens­ive in­fra­struc­ture, en­ergy and tele­coms ex­pert­ise and is able to bring it all to­geth­er to cre­ate the skill set re­quired to de­liv­er long-term pro­ject fin­an­cing to tech­no­logy-based in­fra­struc­ture pro­jects.”Ad­di­tion­ally, the fund­ing of di­git­al in­fra­struc­ture pro­jects, such as the 10,000km El­laLink sub­sea cable between Brazil and Por­tugal, de­mands more com­plic­ated fin­an­cing struc­tures to cov­er the re­lated risks and cre­ate the op­tim­al cap­it­al stack to get the best all-in pri­cing. This has in­volved us­ing mezzan­ine fin­ance and vendor fin­an­cing for con­struc­tion, with a view to at­tract­ing cheap­er op­er­a­tion­al peri­od fin­an­cing in the me­di­um term. A sub­sea cable, cross­ing in­ter­na­tion­al wa­ters and land­ing in mul­tiple leg­al jur­is­dic­tions, is not, un­der­stand­ably, ex­posed to the same po­ten­tial threats and per­ils as a hos­pit­al or a con­ven­tion­al power sta­tion or a wind farm on a single site. So, not all the usu­al rules, mar­ket norms, leg­al con­structs and stand­ard mit­ig­ants ne­ces­sar­ily fit for a fin­an­cing of this type of as­set. Rise of the ma­chines The CMS In­tel­lec­tu­al Prop­erty (IP) Group has un­sur­pris­ingly been at the fore­front of tech­no­lo­gic­al in­nov­a­tion, sup­port­ing cli­ents in the iden­ti­fic­a­tion, pro­tec­tion and com­mer­cial­isa­tion of their IP as­sets. Tom Scourfield, Co-Head of the group, is based in Lon­don and Warsaw, two cit­ies well-known for their tech­no­logy in­cub­a­tion. He ob­serves, “We are not only see­ing an in­crease in the use of tech­no­logy in col­lab­or­a­tion, but much more fre­quently, col­lab­or­a­tion with tech­no­logy it­self.”Ar­ti­fi­cial In­tel­li­gence (AI) is a grow­ing area of fo­cus. Pat­ent ap­plic­a­tions for AI tech­no­lo­gies have in­creased by 170,000 since 2013, ac­cord­ing to a re­cent re­port by the World In­tel­lec­tu­al Prop­erty Of­fice (WIPO). In the field of AI pat­ents, there is cur­rently a fas­cin­at­ing de­bate around the ques­tion of pat­entab­il­ity of in­ven­tions cre­ated by AI ma­chines them­selves. Ac­cord­ing to Tom Scourfield, “Bey­ond pat­ents, we are also see­ing an in­creased use of AI in de­tect­ing and mon­it­or­ing coun­ter­feits and oth­er on­line brand harms. AI is also be­ing used to sup­ple­ment and sup­port the ana­lys­is of sim­il­ar­it­ies between com­pet­ing brands, wheth­er in terms of brand clear­ance or in­fringe­ment scen­ari­os.”Whatever de­vel­op­ments AI and oth­er in­nov­a­tion may bring, he thinks that one thing is cer­tain, “As IP law­yers, we al­ways have to be for­ward-think­ing, look­ing to pro­tect and se­cure com­pet­it­ive ad­vant­ages for our cli­ents in mar­kets and op­por­tun­it­ies that are not even fully es­tab­lished yet.” Pi­on­eer­ing new products Lon­don Funds part­ner Chris­toph­er Luck sees a real ap­pet­ite for new types of as­sets from the funds com­munity. He says that di­git­al tech­no­lo­gies are trans­form­ing the back-of­fices of as­set man­agers and are im­prov­ing the cus­tom­er ex­per­i­ence. Fund man­agers are be­com­ing bet­ter at stor­ing and har­ness­ing data, us­ing block­chain tech­no­lo­gies and plat­forms to make on­board­ing of know your cus­tom­er (KYC) in­form­a­tion and data pro­tec­tion a more stream­lined pro­cess. The use of smart con­tracts is also be­com­ing more pre­val­ent. Chris­toph­er Luck notes that the ad­vent of token­isa­tion, the pro­cess of con­vert­ing real as­sets in­to di­git­al rep­res­ent­a­tions (tokens) on a block­chain, has opened up the in­vest­ment mar­ket to a broad­er range of in­sti­tu­tion­al and re­tail in­vestors. “By demo­crat­ising or cre­at­ing more op­por­tun­it­ies for in­vestors, this is provid­ing ad­di­tion­al li­quid­ity in­to a num­ber of sec­tors, most not­ably real es­tate.” He says, “We are see­ing tokens at their most ad­vanced in the United States and Asia, and grow­ing in the UK and Europe.”  Un­der­stand­ing new en­vir­on­ments  In oth­er more tra­di­tion­al sec­tors, law­yers are in­creas­ingly be­ing ex­pec­ted to provide ad­vice on how to deal with the chal­lenges and op­por­tun­it­ies that tech­no­logy provides.Mark Ziek­man, Co-Head of the CMS Con­sumer Products Group, says, “In the con­sumer goods sec­tor, block­chain is mak­ing an im­pact, provid­ing the sup­ply chain and cus­tom­ers with a great­er de­gree of con­fid­ence in the proven­ance of a product and wheth­er it meets key sus­tain­ab­il­ity cri­ter­ia.”Cus­tom­ers, par­tic­u­larly mil­len­ni­als, are in­creas­ingly de­mand­ing in­form­a­tion around trace­ab­il­ity and audit­ab­il­ity to have con­fid­ence in FM­CG com­pan­ies, lo­gist­ics com­pan­ies and re­tail­ers.Fur­ther­more, Mark Ziek­man be­lieves that tech­no­logy in gen­er­al has played a pivotal role in ad­dress­ing wide­spread busi­ness dis­rup­tion caused by COV­ID-19, en­abling com­pan­ies to trans­form their busi­ness mod­els. Good ex­amples are res­taur­ants which al­most in­stant­an­eously changed their busi­ness mod­el to provide takeaways and food de­liv­er­ies. Shops shif­ted their fo­cus to selling on­line. These changes will not dis­ap­pear in the af­ter­math of the COV­ID-19 pan­dem­ic. Shift­ing reg­u­lat­ory land­scapes Reg­u­lat­ors con­tin­ue to face the on­go­ing chal­lenge of keep­ing pace with in­nov­a­tion and the new mar­ket dy­nam­ics it cre­ates. ESG factors have come to the fore in the minds of reg­u­lat­ors as well and this think­ing is only go­ing to in­tensi­fy. Cristina Reich­mann, a Bucharest based part­ner in the CMS Bank­ing & Fin­ance Group, says that reg­u­lat­ors are al­ways hav­ing to re­spond to new eco­nom­ic mod­els and pub­lic sen­ti­ments. She has seen fast dis­rup­tion in the bank­ing sec­tor CEE, “Ro­mania, for ex­ample, has a his­tory of in­nov­a­tion, pre­vi­ously emer­ging as a ma­jor in­ter­na­tion­al out­sourcing hub and then be­com­ing a fintech centre with a num­ber of uni­corns.” She points to agile bank­ing and fintech, which are provid­ing great­er ac­cess and a broad­er suite of ser­vices to cus­tom­ers, and with this comes reg­u­lat­ory chal­lenges. She says, “There are a lot of com­pli­ance as­pects to be met and solved.”
30/11/2021
TMT World Con­gress
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...
26/10/2021
5G vis­ion video series
A video series on the de­ploy­ment of 5G across the world
31/05/2021
CMS Net­work Shar­ing 4.5
On the brink of a new gen­er­a­tion
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.
19/04/2021
Ro­mania: Draft 5G le­gis­la­tion re­ceives gov­ern­ment ap­prov­al
On 15 April 2021, the Ro­mani­an gov­ern­ment ap­proved draft le­gis­la­tion on the con­di­tions for the de­ploy­ment of 5G net­works (i.e. the 5G Draft Law), which the Ro­mani­an Min­istry of Trans­port, In­fra­struc­ture...
16/02/2021
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
11/02/2021
Ro­mania post­pones 5G auc­tion for Q3 of 2021
On 4 Feb­ru­ary 2021, the Ro­mani­an Na­tion­al Au­thor­ity for Ad­min­is­tra­tion and Reg­u­la­tion in Com­mu­nic­a­tions (AN­COM) ad­op­ted a 2021 ac­tion plan, which fea­tures the launch of the 5G Spec­trum auc­tion as early...
14/01/2021
5G Rol­lout: In­vest­ing and Mon­et­ising in the Next Phase of Con­nectiv­ity
CMS and TMT Fin­ance are proud to col­lab­or­ate to present a dy­nam­ic di­git­al pan­el as part of the 2021 TMT Con­nect series.With 5G rol­lout pick­ing up pace, MNOs, in­fra­struc­ture com­pan­ies and in­vestors are...
23/12/2020
Itali­an For­eign Dir­ect In­vest­ment Re­gime: Over­view and re­cent re­forms
The reg­u­la­tion on con­trol of for­eign in­vest­ments in Italy has been sub­ject to sig­ni­fic­ant changes over the last two years. Such re­forms have mainly con­cerned the scope of ap­plic­a­tion of the do­mest­ic le­gis­la­tion...
10/12/2020
Ro­mania to launch 5G auc­tion in Q2 of 2021
On 4 Decem­ber 2020, the Ro­mani­an Na­tion­al Au­thor­ity for Ad­min­is­tra­tion and Reg­u­la­tion in Com­mu­nic­a­tions (AN­COM) launched its 2021 ac­tion plan for pub­lic de­bate, which will fea­ture the launch of the 5G...