Pearson deal shows US firms off-pace in Europe

The absence of major US law firms on the list of advisers on Pearson's recent major television deal with CLT-UFA of Germany, highlights the fact that most top Wall Street firms, in dramatic contrast to their investment banking compatriots, are off-pace in continental Europe.

A lawyer with an American firm which is expanding its operations in Europe says: 'US law firms are more conservative than UK ones'.

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