CORRECTION Bollore favours industrial ties between Havas and Aegis

CORRECTION Bollore favours industrial ties between Havas and Aegis

	Published : Mon, 11 Jun 2007 13:10 By : Agencies Print this Story

(Corrects last paragraph to show Aegis rejected Bollore 4 times instead of 3)

PARIS (Thomson Financial) - Vincent Bollore, chairman of media group Havas and principal shareholder in Aegis Group PLC, via Groupe Bollore, told Havas shareholders at today's AGM that the two companies would benefit from working together, and raised the possibility of industrial ties.

Speaking at Havas' AGM, Bollore said 'there's real strategic logic to Aegis and Havas working together, which doesn't mean capital ties, it can be industrial agreements.'

Bollore explained that Havas is 'a bit weak' in media buying and that an agreement with Aegis 'would be highly favourable' for the French group.

Aegis, meanwhile 'has more of a problem with its future without Havas than Havas without Aegis, as it will be swallowed up by one of the big groups,' he warned.

Vincent Bollore's holding company Groupe Bollore, owns a 29 pct stake in Aegis, close to the 30 pct threshold which would require him to make a full takeover bid for the UK group, which has fuelled takeover speculation over the past two years.

Some analysts believe that he wants to force a tie-up with Havas without launching a formal takeover bid, despite repeated denials by Bollore.

Bollore has also been seeking representation on Aegis' board, and has repeatedly been rebuffed by the UK group's shareholders.

Following a fourth rejection at Aegis' AGM last month, Bollore vowed to continue to seek board seats, but stressed that he was happy with the size of his stake in Aegis.

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