US utility firm picks Cubitt for investor relations work

US utility Citizens Utilities this week appointed Cubitt Consulting, the financial communications consultancy founded last month by former Citigate Communications managing director Simon Brocklebank-Fowler, to handle its pan-European investor relations.

US utility Citizens Utilities this week appointed Cubitt

Consulting, the financial communications consultancy founded last month

by former Citigate Communications managing director Simon

Brocklebank-Fowler, to handle its pan-European investor relations.



The agency was appointed this week after a three-way pitch. Cubitt

declined to comment on fees for the annual contract, but they are

believed to be in excess of pounds 100,000.



The appointment comes in the wake of Citizens’ decision to de-merge into

two separately listed companies by the end of 1999. The companies have

not yet been named, but one will focus on telecommunications and the

other on utilities such as gas and electricity.



US agency Christensen Investor Relations Consultancy will handle

investor relations for the American market. Citizens is listed on the

New York stock exchange with a market valuation of over pounds 1.3

billion.



Brocklebank-Fowler said: ’The de-merger will enable the company’s

shareholders to invest in sectors in which they are most interested. We

are delighted to support Citizens during such a critical phase in their

corporate development.’



Cubitt’s brief will include raising the profile of the two separate

companies throughout Europe and providing general strategic

communications advice.



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