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Aegis Drums Up Opposition to Bolloré

News, 09 November 2006


LONDON: Aegis Group says it has received support from major investors in its attempts to fend off the unwelcome attentions of its biggest shareholder, Vincent Bolloré.

The chairman of the French advertising services conglomerate Havas is trying to install two of his nominees to the international media and research group's board, in a bid to force the two companies to collaborate more closely.

A vote on Bolloré's proposal is due to be taken at an extraordinary general meeting in London on November 22.

Aegis says it has received letters from leading institutional shareholders expressing their support for its board in its opposition to Bolloré, who holds a 29.3% stake.

Comments chairman Lord Colin Sharman: "It is highly unusual for institutional shareholders to express their views so publicly, uniformly and clearly, well ahead of a vote. This reflects the strength of their feeling on the point of principle involved."

Bolloré's hopes for board representation were originally dashed at the company's annual meeting six months ago [WARC News: 15-June-06].

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