22nd Apr 2014 10:17
LONDON (Alliance News) - Porta Communications PLC Tuesday said its public relations company in Australia, Newgate Communications PTY Ltd, has been appointed by the Australian government to handle the second phase of the Medibank privatisation, in a deal worth AUD2.4 million in fees to Newgate.
Medibank is an Australian government-owned private health insurer. Earlier this year the administration of Prime Minister Tony Abbott said it planned to sell the business for around AUD4 billion.
In a separate note, Porta said it is launching Newgate Communications in Doha, Qatar, and has secured an initial retainer contract. It didn't name the client.
"With the launch of the Qatar business, we now have a very solid base on which to build our capability in the Middle East," Chief Executive David Wright said in a statement. "We would anticipate breaking into profits in Qatar as quickly as we have done in Abu Dhabi, and expect both offices to work closely with each other," he added.
The stock was trading at 13.35 pence Tuesday, up 1.10 pence or 9.0%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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