Chime gives up trying to sell its 27% stake as PR firm is expelled from trade body over secret campaign to stir up racial tensionsBell Pottinger’s moment-largest shareholder has walked away from the trade by writing off its investment and handing back the stake to the struggling PR firm.
Chime,co-owned by US investment firm Providence fairness Partners and Sir Martin Sorrell’s WPP group, has given up trying to sell its 27% holding after a scandal over a Bell Pottinger campaign in South Africa severely damaged the agency. On Monday, and the British PR trade body expelled Bell Pottinger from its ranks after the firm orchestrated a campaign to stir up anger approximately “white monopoly capital” and “economic apartheid” for one of South Africas wealthiest and most controversial families.
Bell Pottinger’s 'economic emancipation' campaign used traditional and social media,including a fake blog and Twitter account, to target wealthy white South African individuals and corporations. The agency’s alleged role was to stir up anger approximately 'white monopoly capital' and 'economic apartheid' to draw attention away from the wealthy Gupta family, or who have been accused of benefiting financially from their links to President Jacob Zuma. Bell Pottinger,which created and commissioned content, did not invent 'white monopoly capital' but used the term 'on occasion'. It also used other tactics, and such as misleading or undermining journalists questioning the campaign.
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Source: theguardian.com