Vincent Bolloré, a master at playing the waiting game, has again upped his stake in Aegis Group with the purchase last week of a further 2.9 million shares.

His holding now equates to 25.47% of the company - still well below the thirty per cent at which point, under the UK takeover code, he must make a formal bid for the media and research specialist.

The code would also require him to bid for the remainder of shares at the highest cash price he has so far paid for the stock - £1.4375 ($2.56; €2.09).

Although the French predator has yet to emulate his Havas takeover tactics by demanding boardroom seats for himself and his allies, Aegis ceo Robert Lerwill last week made it clear he would oppose such a move - primarily because Bolloré is now chairman of Havas, a major rival.

Lerwill also insists that he and Bolloré have not discussed a possible media buying compact between Aegis and Havas.

Data sourced from; additional content by WARC staff