Havas Boss Makes New Move on Aegis

20 September 2006

French corporate raider Vincente Bolloré, who also chairs world number five ad holding company Havas, is set to make his second attempt to gain seats on the Aegis Group board.

After a buying spree earlier this year, Bolloré holds a key 29% stake in the London-headquartered media and research specialist, ranked number nine in the global pecking order.

Speaking Tuesday to Reuters, a Bolloré lieutenant said the Havas chairman - now Aegis's largest single shareholder - plans to call an extraordinary general meeting "by end-September or early October". At this meeting he is expected to renew his thwarted push for seats on the Aegis board [WARC News: 15-Jun-06].

Analysts and other observers believe Bolloré's efforts to seize seats on the Aegis board are an opening salvo in his attempt to acquire the company.

But despite the Frenchman's eagerness to build a commanding stake in Aegis, he spurned an offer by the company's executives to attend a personal briefing to discuss its most recent financial results.

Bolloré-watchers believe he may now be poised for the kill.

Data sourced from MediaGuardian.co.uk; additional content by WARC staff