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Zayo Group's $14.3B going-private deal drives telecom M&A adviser ranking

Zayo Group Holdings Inc.'s pending $14.30 billion sale to an investor group in a going-private transaction drove a two-way tie for No. 1 in S&P Global Market Intelligence's ranking of telecommunications M&A advisers for the first nine months of 2019.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC each ended the measured period with $19.29 billion in deal credit for financial advisory work on three transactions, including the Zayo sale, that targeted telecom companies or assets in the U.S., Canada or Bermuda.

Both financial firms also advised T-Mobile US Inc. on proposed divestitures designed to bolster regulatory support for T-Mobile's pending merger with Sprint Corp.

Deutsche Bank Securities Inc. came in third in the ranking, after Goldman and J.P. Morgan, with about $15.65 billion in aggregate deal credit from two transactions, including the Zayo sale. The bank also advised an investor group in its pending $1.35 billion acquisition of Frontier Communications Corp.'s operations and assets in Washington, Oregon, Idaho and Montana.

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