The Tote axes College Hill as it prepares for sell-off

The Tote has dropped College Hill as its retained corporate PR adviser as the Government prepares to sell off the state-run bookmaker.

The Tote corporate PR manager Liza Wallace said it ceased working with the agency last week following royal assent of the bill on 26 October that will see The Tote privatised.

‘The reason we put College Hill on notice is that we always intended only to have support for the privatisation process,’ she said.

Wallace added that the firm did not plan to draft in an agency to replace College Hill and would not call in PR support before the group’s sell-off.

She said controversy around the price the Government chose to put on the group was a matter for the different government departments involved in the sale.

Sale plans announced by The Tote last Wednesday are expected to value the company at between £150m and £200m.

However, critics say the sale to a racing trust significantly undervalues the company, which could be worth as much as £500m.

College Hill has held The Tote account since February 2003.

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