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Taking a Closer Look: New Developments on Foreign Investment Reviews in the Telecommunications Sector
For decades, parts of the Federal government have examined transactions that introduce and increase foreign investment in United States telecommunications businesses. Transactions that implicate reviews by the Departments of Justice, Defense, and Homeland Security (collectively, “Team Telecom”) and/or by the Committee of Foreign Investment in the United States, or CFIUS can face procedural hurdles and delays that complicate planning and timelines. CFIUS review can even lead to blocked transactions or an unwinding of consummated deals. In 2020, there have already been major developments in the basic framework by which Executive Branch agencies will conduct reviews and in the burdens that telecommunications sector enterprises will or may face under those frameworks.

Join Kelley Drye for a webinar on May 7 to look at these significant changes, including:

• New rules, promulgated earlier this year to implement the Foreign Investment Risk Review Modernization Act of 2018, or FIRRMA, which govern review by CFIUS of certain transactions involving foreign investment in United States businesses, as they apply to the telecommunications sector

• When telecommunications entities must file disclosures with CFIUS before a transaction, when such entities may file voluntarily (and why they might do so), and what transactions are not covered

• The President’s recent Executive Order establishing the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (“Committee”) to conduct Executive Branch law enforcement and national security reviews of certain FCC applications and licenses

• What is known about the new Committee, how it relates to Team Telecom and CFIUS, and what uncertainties remain

Speakers:
Chip Yorkgitis, Partner
Denise Smith, Special Counsel
Scott Wise, Senior Associate

May 7, 2020 11:00 AM in Eastern Time (US and Canada)

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