Financial Dynamics has been appointed to handle PR for what is
being billed as the largest takeover bid in history.
Vodafone AirTouch has hired FD to manage financial communications during
the takeover bid for German telecommunications company Mannesmann.
Vodafone’s pounds 64 billion bid for Mannesmann was rejected by the
Germans, who are now fiercely contesting a hostile takeover. Mannesman
has gone to the High Court to prevent Goldman Sachs from advising the UK
group.
Vodafone has retained Tavistock Communications since 1988, and will
continue to work with the agency, but Financial Dynamics will be the
lead agency on the bid.
At the beginning of the year, when Vodafone merged with US mobile
company AirTouch, Brunswick was brought on board to work with Tavistock.
Brunswick is not, however, involved in the Mannesmann bid. Hugh
Morrison, FD’s international MD who is heading the account, said: ’We
have expertise in these complicated cross-border bids.’
Financial Dynamics is believed to have asked Germany’s largest agency,
Kohtes and Klewes, to represent Vodafone locally.
Mike Caldwell, Vodafone’s corporate communications director, said: ’With
a trans-European offer like this the German press is as important as the
UK press.’
If regulators in Brussels and Germany object, the bid could last some
time. Vodafone’s retained public affairs agency is GJW.
Vodafone is currently talking to institutional shareholders all over
Europe at a series of meetings and hopes to make a further approach to
Mannesmann this week.
Mannesmann’s chairman, Klaus Esser, is on record as saying that his
company would be up for sale in principle, providing the price was
right.
