An advisory boutique with just a handful of London employees sat alongside senior dealmakers at Wall Street giants JPMorgan and Citi to get the £31bn tie-up between telecoms firms Telefónica and Liberty Global over the line during the coronavirus lockdown.

Specialist telecoms, media and technology boutique LionTree was joint advisor to Liberty Global with JPMorgan, as the telecoms giant combined its UK Virgin Media unit with rival Telefonica's O2, a move that will shake up the industry in Britain.