Security Agreements / Team Telecom
HWG represents operators, sellers, and purchasers of telecommunications and critical infrastructure businesses to negotiate, amend, and terminate security agreements and other more informal assurances with the Departments of Justice (DOJ), Homeland Security, and Defense and the Federal Bureau of Investigation (collectively known as “Team Telecom”).
In transactions involving acquisitions of existing telecommunications and critical infrastructure businesses by non-U.S. investors, HWG also represents purchasers and sellers to obtain investment clearances under the Exon-Florio amendment from CFIUS, whose member agencies include the Team Telecom agencies.
In all types of mergers, acquisitions, internal corporate reorganizations, and bankruptcy proceedings, HWG represents telecommunications and critical infrastructure businesses before the FCC, DOJ, and the Federal Trade Commission (FTC) to obtain consents for license transfers. HWG has particular expertise in managing the overlapping regulatory processes of the FCC, Team Telecom, and CFIUS to minimize delay and adverse publicity.
- Represented numerous foreign owners of new undersea cable systems in negotiating security agreements with Team Telecom.
- Represented U.S. seller of global undersea cable network (to a foreign buyer) before the CFIUS (which terminated its review without formal investigation), the Team Telecom agencies, the FCC (which granted a first-ever expedited review for such a transaction and approved transaction in record time), and Congress.
- Represented foreign investor in satellite operator before the Team Telecom agencies in negotiations to amend operator’s existing security agreement.
- Represented foreign interconnected Voice over Internet Protocol (VoIP) provider before the Team Telecom agencies, successfully arguing against imposition of any security agreement.
- Represented buyer of foreign-owned U.S. fiber-optic network before Team Telecom and the FCC, resulting in first-ever termination of a security agreement.