Takeover Panel denies City PR fees proposals

The Takeover Panel has denied press reports that it has made any proposals regarding the fees paid to City PR firms.

The Takeover Panel has denied press reports that it has made any

proposals regarding the fees paid to City PR firms.



Earlier this week two newspapers reported that a number of senior fund

managers had expressed their concern to the panel about the fees

financial PR firms command.



But the panel’s director general Alistair Delfriez told PR Week: ’This

is not a regulatory issue but a commercial one between fund managers and

how they spend their shareholders’ funds.’



Stewart Prosser, chairman of the IPR’s City and Finance Group said he

supported the disclosure of fees: ’Transparency in their activities is

good for business as it will help people understand their role.’



But Lowe Bell Financial chairman Piers Pottinger said: ’We have a

commercial relationship with clients and it would be ridiculous to

disclose our fees.’



Meanwhile, City PR man Antony Cardew also came into the spotlight for

his role as adviser to Nicola Horlick in her dispute with Deutsche

Morgan Grenfell. Many criticised the campaign as overblown.



Diana Soltmann of Millbank PR, who handled PR for former prison chief

Derek Lewis in his dispute with Home Secretary Michael Howard last year,

said: ’The public tends to remember a few things and they may not be the

right ones. She should have kept her personal life out of the issue’.



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