M Communications takes on Alstom rebuilding task

Alstom, the debt-stricken French engineering group that is facing a class-action lawsuit in the US, has drafted in M Communications to help rebuild its torn reputation with investors.

The agency, founded by Nick Miles and Hugh Morrison, secured the brief after a two-month pitch process in the UK and France.

M Communications consultant Louise Tingstrom is leading the account and starts work this week.

The agency replaces Financial Dynamics, incumbent for five years, which declined to pitch for the work.

Last week Alstom’s shares fell 14 per cent on the Paris stock exchange after it emerged that some of its minority shareholders were launching a class action claiming that a number of accounting irregularities took place between November 1998 and June 2003.

The news came only a day after the company had agreed a controversial £2.2bn rescue package with the EU, the French Government and a syndicate of banks.

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