Bolloré Aegis Stake Passes Threshold

Groupe Bolloré, controlled by French financier and Havas Chair Vincent Bolloré has raised its stake in Aegis - owner of Synovate - to 25.05%, just above the 25% threshold that allows a blocking minority in the company.

The move follows Friday's announcement that the WPP Group will not be bidding for Aegis. Speculation is now focusing on what Bolloré will do next. Under Takeover Panel rules, if his stake reaches 30%, he will be required to make a bid for the company. Some analysts believe that, if he is to make a bid, he will do so before December 15th, when he is due to unveil new long-term plans for Havas.

However, it is possible that Bolloré will keep his shares just below 30%, and will attempt to influence Aegis's future by demanding seats on its board. Some say he may attempt to merge parts of Aegis with parts of rival advertising and media network Havas.

WPP reserved its right to reconsider making a bid if a third party such as Bolloré declared 'a firm intention to make an offer' for Aegis.

Aegis is online at www.aegisplc.com.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.