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Cobalt, working together with Freshfields Bruckhaus Deringer, has advised Global Communications Infrastructure on its 50/50 partnership with Tele2 to carve out telecom infrastructure assets and create the first tower company covering all three Baltic countries. Tegos, working with Clifford Chance, advised Tele2.

In April 2007, Estonia made global headlines — not for a military conflict or natural disaster, but for one of the first coordinated large-scale cyberattacks against a nation-state. Sparked by the relocation of a Soviet-era war memorial in Tallinn (known as the Bronze Night), the country’s digital infrastructure was flooded with denial-of-service attacks. Government websites, banks, media outlets, and essential services were knocked offline. It was a wake-up call: digital threats could now paralyze a country just as effectively as tanks and missiles.