WPP And Bollore To Launch Joint Attack On Aegis

Global advertising group, WPP is reported to be considering its options for a joint bit for Aegis Group by obtaining support from the Group’s biggest shareholder, Vincent Bollore.

The French entrepreneur has recently been strengthening his position in the company, now owning a quarter of the media group.

According to a report in Saturday’s Daily Telegraph, Bollore has approached Aegis with a plan to spilt the company between its two rival bidders, WPP and himself.

The end of last month saw WPP given a four week deadline to table a bid for rival Aegis by the UK’s Takeover Panel, with WPP’s chief executive, Martin Sorrell, saying that he was still considering a bid for Aegis, following the company’s third quarter results, which reported a 5% rise in organic growth, with WPP’s own market research unit under performing the market with an increase of only 1% in turnover (see WPP Given Deadline For Aegis Bid).

Speaking in a recent interview on the subject, Sorrel said: “We are looking at what we could do, with an investment firm. We are busy sharpening our pencils, we have received a certain amount of information but we do not have enough yet.

Bollore has increased his stake in Aegis steadily since the end of September, when he held a stake of around 6% in the company (see Increased Stake Fuels Bollore/Aegis Rumours).

The businessman has repeatedly described his interest in Aegis as a purely “financial” one, although analysts have since speculated that he will soon attempt a tie-up between Aegis and Havas, of which he is the chairman and largest shareholder, possibly of their media purchasing operations.

Aegis Group: 020 7070 7700 www.aegisplc.com

WPP: 020 7408 2204 www.wpp.com