Bollore: Aegis and Havas Could Together Do Better
08.12.08, 16:37 Uhr |
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PARIS -(Dow Jones)- French industrialist Vincent Bollore Monday said it is clear that together advertising groups Havas (12188.FR) and Aegis (AGS.LN) could do better.
Bollore is the controlling stockholder of Paris-based Havas, as well as a 30% shareholder in London-based Aegis.
"Together, Havas and Aegis represent about EUR1.5 billion revenue and 15,000 employees, which makes them two small actors compared to big groups like WPP (WPP.LN)," Bollore said in a video interview posted on the Web site of French business daily Le Figaro.
"It is clear that together we could do better," he said in response to the question of whether he still hopes for a collaboration between the two groups he has invested in.
"But one has to be two to cooperate and for now we respect Aegis' decision to go it alone," Bollore added.
However, "we are not depriving ourselves to express our opinion," he added.
The recent departure of Aegis Chief Executive Robert Lerwill caused renewed speculation about a merger between the two groups.
Bollore also said he had noticed advertising cutbacks over September and October and expected advertising investments to decline by 3% or 4% in volume in 2009.
"Given the gloomy predictions that were made about the advertising market next year, I don't consider this to be enormous," he added.
"Together, Havas and Aegis represent about EUR1.5 billion revenue and 15,000 employees, which makes them two small actors compared to big groups like WPP (WPP.LN)," Bollore said in a video interview posted on the Web site of French business daily Le Figaro.
"It is clear that together we could do better," he said in response to the question of whether he still hopes for a collaboration between the two groups he has invested in.
"But one has to be two to cooperate and for now we respect Aegis' decision to go it alone," Bollore added.
However, "we are not depriving ourselves to express our opinion," he added.
The recent departure of Aegis Chief Executive Robert Lerwill caused renewed speculation about a merger between the two groups.
Bollore also said he had noticed advertising cutbacks over September and October and expected advertising investments to decline by 3% or 4% in volume in 2009.
"Given the gloomy predictions that were made about the advertising market next year, I don't consider this to be enormous," he added.
Newspaper Web site: www.lefigaro.fr
-By Ruth Bender, Dow Jones Newswires; +33 1 40 17 17 40; ruth.bender@dowjones.com
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(END) Dow Jones Newswires
