INTERNATIONAL: Shandwick kicks off Vicenza Calcio float

Shandwick Corporate Communication is to handle the flotation of Italian football club Vicenza Calcio on the Milan stock exchange next spring.

Shandwick Corporate Communication is to handle the flotation of

Italian football club Vicenza Calcio on the Milan stock exchange next

spring.



The flotation means Vicenza Calcio has won the race to be the first

Italian football club to float, following a change in Italian law in

September 1996 which allowed clubs to become profit making companies for

the first time.



Shandwick’s activities for the flotation will include press relations,

investor relations, writing the prospectus and brochure and

co-ordinating the advertising.



Deregulation should see Italian clubs following the example of clubs in

the UK like Manchester United, which floated on the London stock

exchange five years ago and is now worth over pounds 400 million.



Management teams at Lazio, AC Milan, Bologna and Juventus have all

expressed their intention to list on the stock exchange, either in Milan

or London.



Unlike UK regulations, Italian listing requirements insist that

companies coming to the market have been profitable for at least the

previous three years.



Vicenza Calcio was bought by a British investor, Stephen Julius, in June

after its former owner, Pieraldo Dalle Carbonare, went bankrupt. The

football club itself fulfils Italian financial regulations because it

has been profitable since mid-1995.



Julius then sold on 62 per cent of the club to the English National

Investment Club, which also owns 25 per cent of Glasgow Rangers. The

club announced its intention to float in August, and appointed a new

chairman, Paolo Scaroni, in October.



- Shandwick Corporate Communication in Milan has been appointed to

handle the flotation of privately owned Italian charter airline, Air

Europe.



The brief includes investor and media relations, as well as internal

relations.



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