Groupe Bollore raises its stake in Havas

19th October 2004, Comments 0 comments

PARIS, Oct 19 (AFP) - A spokesman for Groupe Bollore said Tuesday the French company had raised its equity stake in adverising group Havas to 22.58 percent, and its voting rights now stand at 23.14 percent.

PARIS, Oct 19 (AFP) - A spokesman for Groupe Bollore said Tuesday the French company had raised its equity stake in adverising group Havas to 22.58 percent, and its voting rights now stand at 23.14 percent.

The stake increase does not integrate the results of the EUR 404 million (USD 505 million) capital increase carried out by Havas last week, to which Groupe Bollore subscribed, the spokesman said.

The new shares created for the capital hike will be delivered Tuesday.

Bollore's latest stake increase follows a series of similar moves since July aimed at offsetting the dilution caused by the capital increase.

The company, owned by businessman Vincent Bollore, announced Monday that it held a 21.57 percent stake and 22.10 percent voting rights in Havas.

Bollore has been pushing for a shake-up of Havas' corporate governance and requested seats on the company's management board.

Havas said Monday that its precise shareholder structure following its EUR 400 million capital hike would not be known until mid-November.

Shares in Havas were off 0.70 percent at 4.26 euros in afternoon Paris trading, while the CAC 40 index was 1.50 percent higher at 3,717.17 points.

© AFP

Subject: French News

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