Five financial PR consultancies are pitching this weekend to work on the
communications programme for one of France’s highest profile
privatisations to date: France Telecom.
Gavin Anderson, CPM et Compagnie, Media Finance, IS Conseil and Euro
RSCG Finances have been called to make presentations in Paris on
Saturday. Executives from France Telecom and the French Ministry of
Economics and Finance will oversee the selection. The privatisation
itself falls under the responsibility of Francois Fillon, minister for
the post office, telecommunications and space.
Most of the French agencies have teamed up with UK partners in a bid to
publicise the sell-off to international investors. IS Conseil, which
advised on the privatisation of aluminium and packaging firm Pechiney
last year, is joined by its exclusive partner Ludgate while Euro RSCG is
pitching with Dewe Rogerson. Gavin Anderson has its own French arm and
will offer access to the Omnicom network.
The second largest telecommunications company in Europe, France Telecom
will come to the market in April 1997. The first tranche of the share
offering will be for about 20 per cent of its capital and is expected to
raise FFr30 billion (pounds 3.6 billion).
Several other state-owned firms, including Credit Lyonnais, defence and
electronics group Thomson, the rest of Renault and Air France, have also
been earmarked for future privatisation.