NEWS: Nynex switches to Square Mile for financial advice

Financial PR firm Square Mile has scooped the financial PR account for the UK’s second largest cable operator Nynex Cablecomms.

Financial PR firm Square Mile has scooped the financial PR account for

the UK’s second largest cable operator Nynex Cablecomms.



Square Mile won the account last week following a three-way pitch

against Gavin Anderson and College Hill. Previous incumbent Brunswick,

which finished work for the company in April, was not invited to pitch.



Allen Saunders, executive director, corporate communications, said the

company was pleased with Brunswick’s work but wanted a ‘fresh look at

communications in this area.’



Square Mile will have a dual reporting line to Saunders and company

treasurer Graham Robertson.



Tim Jackaman, joint MD of Square Mile, said the agency’s job was to ‘get

across the message about the fantastic progress Nynex is making in

developing its franchise network and the fact that it is moving towards

a situation where it is profitable’.



Latest figures from Nynex showed a 93 per cent increase in revenues for

the first half of 1996 to pounds 68 million, and a cut in net losses to

pounds 35.5 million from pounds 43.2 million for the first half of 1995.

The share price however, continues to lag behind last year’s flotation

price of 137p.



Commenting on the agency’s brief Saunders said: ‘It’s fair to say I’m

not delighted with our share price, there is work to do there’.



Asked whether the agency would be tackling the persistent rumours of a

merger between Nynex and rival Telewest, Saunders declined to comment on

‘speculation about M&A activity’ but added: ‘I can confirm they have not

been retained in that capacity’.



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