College Hill to handle PR for planned IPO of Celtel

Celtel International, the largest mobile phone operator in sub-Saharan Africa, is preparing a financial comms offensive ahead of its likely listing on the London Stock Exchange.

The firm is also considering a listing on the Johannesburg Stock Exchange in South Africa, which proved a key factor in its decision to appoint incumbent adviser College Hill Associates to handle an expanded brief following an account review.

Celtel chief strategy officer Terry Rhodes said Celtel had stipulated that its financial PR agency would need IPO experience and knowledge of business in Africa.

While Celtel has not yet declared its intention to float, Rhodes said College Hill would be expected to plug the company to the City as one of the world’s fastest growing firms.

In the 13 countries where Celtel operates, around three out of ten people have a mobile phone, whereas market penetration of mobile operators is much higher in other parts of the world.

Celtel has over four million customers and last month announced a 47 per cent increase in revenues for the first half of 2004, from £112m in 2003 to £165m. The company made a net profit of £31m, up from £7m in the previous year. On average, Celtel took about £12.5 from each user.

The company said the substantial increase in business was down to its £139m investment to acquire a majority stake in Kenya’s mobile network operator KenCell.

The purchase extended Celtel’s reach into East Africa, making it the only mobile operator with the opportunity to develop a network covering Kenya, Uganda and Tanzania.

College Hill fought off four agencies to keep the Celtel business and handle PR around the float.

Although Rhodes would not comment on the pitch, the other agencies are believed to have been Smithfield, Capital MS&L, Finsbury and Citigate Dewe Rogerson.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

Labour hires Obama election strategist David Axelrod to fight General Election

Labour hires Obama election strategist David Axelrod to fight General Election

The man who helped Barack Obama win the 2008 and 2012 US presidential elections is to work for Labour along with members of his team.

Sky adds Fever PR to its roster after splitting with Cake

Sky adds Fever PR to its roster after splitting with Cake

Pay-TV giant Sky has added Fever PR to its agency line-up for a wide-ranging brief covering products and services.

Max Clifford trial jury to continue deliberations after Easter break

Max Clifford trial jury to continue deliberations after Easter break

The jury in the trial of celebrity publicist Max Clifford has been sent home for Easter and will reconvene on Tuesday for further deliberations about its verdicts on 11 charges of indecent assault.

Home Office brings in Munro & Forster to campaign against FGM

Home Office brings in Munro & Forster to campaign against FGM

The Home Office has tasked Munro & Forster (M&F) with supporting its campaign to eradicate female genital mutilation (FGM) as part of a wider retained brief.