Esprit Telecom picks US agency

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.

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

countries.



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

February.



Investors include Apax Partners, Hancock Venture Partners and EM Warburg

Pincus and Co.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.