Telecommunications firm Esprit Telecom has opted to hire a US firm,
Corporate Communications, as its first investor relations consultancy in
an effort to boost interest in its newly floated stock.
Based in Reading, Esprit Telecom provides national and international
telecommunications services in 14 UK cities and in several European
Clients include financial institutions, travel services groups and
hotels and it plans to expand its network by building submarine cable
systems linking the UK, the Netherlands and France.
The company made an initial trawl of six agencies last month and saw
pitches from four of them: Corporate Communications, Dewe Rogerson, Lowe
Bell Financial and Georgeson and Company.
Company spokeswoman Margaret McCarthy explained that although Esprit
Telecom was located in the UK and operated principally in Europe, 73 per
cent of its shareholders were based in the US. It therefore made sense,
she said, to hire a US IR adviser.
Based in Nashville, Tennessee, Corporate Communications will report to
Esprit Telecom’s chief financial officer Ray Merritt in Reading.
Esprit Telecom floated on the Nasdaq and Easdaq exchanges in
Investors include Apax Partners, Hancock Venture Partners and EM Warburg
Pincus and Co.