The mobile phone company, which appointed FD following a four-way pitch in October (PRWeek, 24 October), has replaced its incumbent financial adviser with Holloway & Associates, as France Télécom continues with a £5bn buyout of Orange’s minority shareholders.
Holloway, founded by ex-Maitland partner Richard Holloway, was appointed as France Télécom’s first UK financial PR adviser earlier this year.
A spokeswoman for Orange said FD had been hired on a project basis, including handling PR for Orange’s third-quarter results, which were announced on 29 October. They were the final results to be released before Orange ceases to be a publicly quoted company.
‘Given that France Télécom is buying out the remainder of our shareholders, it makes more sense to have a single PR agency handling financial PR,’ the spokeswoman said.
FD partner David Lloyd, who has been handling the account, similarly
insisted that the firm had ‘never been taken on on a long-term basis’.
France Télécom’s buyout of Orange is currently suspended due to legal action by a mino-rity shareholder group in France. The French court of appeal is expected to rule on the case next spring.
Orange reported an extra 113,000 UK subscribers in its third-quarter results, bringing its total UK base to 13.37m.