Bollore 'happy' with size of Aegis stake; will continue to seek board seats |
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Tue, 05 Jun 2007 11:16
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PARIS (Thomson Financial) - Bollore is 'happy' with the size of its 29 pct stake in Aegis Group PLC but will continue to seek board seats at the UK advertising group, chief executive Cedric de Bailliencourt told shareholders at Bollore's AGM.'We are continuing to request this representation (on the Aegis board), and we will continue to do so,' de Bailliencourt said.Last month, Aegis shareholders rejected for a fourth time Bollore's request for board seats. The UK group's management has opposed the move, citing a conflict of interest given that Bollore is the largest shareholder in French advertising group Havas and its owner Vincent Bollore is also Havas' chairman.Cedric de Bailliencourt argued that 'we are in this company (Aegis) and this sector for the long run,' stressing that Havas had invested 600 mln eur in Aegis for its stake.He added that Bollore is 'happy with the size of its investment and its holding' in Aegis.tfn.paris@thomson.comafp/gt/slmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Pirc advises Aegis shrhldrs to reject again Bollore request for board seats 