Bolloré Plays Down Aegis Board Prospects

13 June 2006

Bullish Havas chairman Vincent Bolloré says he will not surrender in his battle to win places on the board of media group Aegis, even if he loses the skirmish at tomorrow's (Wednesday's) annual meeting.

The financier, who has built up a 29% stake in UK-headquartered Aegis, says if his nominees are turned down he will lobby the group's other shareholders and seek to have another meeting called - permissible under British law.

Bolloré told the annual meeting of the French advertising giant Havas yesterday that he did not have "many illusions" about getting his representatives on to the Aegis board.

He has nominated two Frenchmen, Roger Hatchuel, the former owner of the Cannes Lions International Advertising Festival, and Philippe Germond, a former telecoms executive.

Bolloré wants Havas and Aegis to form commercial links, via the former's MPG media buying arm and the latter's Carat unit - the same idea which constitutes a conflict of interests according to Aegis directors [WAMN: 07-Jun-06].

Data sourced from Financial Times online; additional content by WARC staff