WPP-Backed Chime Cuts Ties With Bell Pottinger
- Chime said to return 27% stake to embattled London PR firm
- HSBC, Carillion defect; Sabadell reviews Bell Pottinger role
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One of Bell Pottinger LLP’s biggest investors has severed ties with the embattled public-relations firm, along with a growing list of corporate clients that are deserting the U.K.-based company as it attempts to weather a reputational crisis. Bell Pottinger is evaluating options including a possible sale.
In an effort to distance itself from Bell Pottinger, Chime Communications Ltd, co-owned by advertising giant WPP Plc and Providence Equity Partners, returned its 27 percent stake in the London-based PR firm without compensation about two weeks ago, according to a person familiar with the matter who asked not to be named discussing details of the decision.