Law firms in continental Europe foresee strong growth in the coming five years, despite the growing influx of UK and US firms to the region, according to a recently released Legal Week survey.
Of the 100 firms polled by the news service, the majority believed that a third of mainland Europe's business law market is likely to be seized by firms from the United Kingdom and America over the next five years. The average estimate of the market share already taken by such firms was 22%.
The European law firms questioned also predicted significant fee earner growth over the coming years, according to Legal Week, ranging from 78% in France, and 60% in Italy to more modest predictions of 18% from the Benelux countries.
19% of those firms which responded to the survey said that they would consider merging with an UK or US rival, with 100% of respondents from Scandinavia and France revealing that they would reject all approaches.
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