Canary Wharf ditches Bell Pottinger

Docklands property developer Canary Wharf has dropped its City PR advisers Bell Pottinger Financial in favour of rival Brunswick as the group readies itself for a multi-billion pound takeover auction.

A committee of non-executive directors – formed to consider a number of potential bid approaches – drafted in Brunswick late last week, alongside banking advisers Cazenove and Lazard.

The group, which was relegated from the FTSE 100 in April after a share price slump, received approaches from interested bidders last week and has since seen its shares jump up by over 50 per cent.

It is thought Cazenove was instrumental in bringing Brunswick on board.

Brunswick advised Canary Wharf bosses on the group’s flotation four years ago, but was axed after the IPO and replaced by Bell Pottinger, whose public affairs unit is still retained.

A Canary Wharf spokes-man declined to comment on the agency changes except to say: ‘Brunswick has been appointed by the committee of independent non-executive directors and will report to them. Bell Pottinger have been stepped down and ongoing general day-to-day PR is being handled internally.’

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