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Havas CEO Yannick Bolloré shuts down WPP takeover rumours, says 'no talks underway'
Yannick Bolloré has reportedly told employees that the company remains focused on its Converged.AI strategy and targeted acquisitions.
“It’s our policy not to comment on market rumors, however, given the recent press coverage amplifying these rumors and the questions we’ve received from colleagues, we want to clarify that we are not in discussions with WPP,” Bolloré wrote.
Havas chief executive Yannick Bolloré has moved to firmly quash speculation that the group is in talks to acquire WPP, telling employees in an internal memo that the Paris-headquartered holding company is “not in discussions with WPP” despite a swirl of media reports suggesting otherwise.
Reports earlier claimed that Havas had held exploratory conversations around a potential takeover of the struggling British advertising giant. But in the memo sent to staff on Monday, November 17, Bolloré reportedly said the rumours had prompted direct questions internally, forcing the company to speak up.
“It’s our policy not to comment on market rumors, however, given the recent press coverage amplifying these rumors and the questions we’ve received from colleagues, we want to clarify that we are not in discussions with WPP,” Bolloré wrote, as per media platforms.
The CEO used the message to highlight Havas’ recent performance, noting that the group has “delivered strong results over the past months in a world full of uncertainties.” He pointed to Q3 organic growth of 3.8%, ahead of market averages, driven by “remarkable client wins and expanded collaborations with long-standing partners.”
Bolloré reiterated that Havas continues to pursue a “strategy of bolt-on and targeted acquisitions” while remaining open to larger deals that align with its long-term roadmap. But he stressed that “there are currently no ongoing discussions of that nature.”
“Undistracted by rumours and noise,” he continued, “we remain focused on accelerating the deployment of our Converged.AI strategy, driving group-wide AI adoption and delivering excellence for our clients and prospects.”
The wave of speculation comes at a turbulent time for WPP, whose stock slumped 16% to a 27-year low in late October after the group missed quarterly forecasts. New CEO Cindy Rose described the company’s performance as “unacceptable,” announcing a series of corrective measures. WPP has since appointed McKinsey to advise on its long-awaited strategy review.
Meanwhile, reports have indicated that private equity players Apollo and KKR have assessed WPP’s assets. According to The Times, Apollo looked at the business last year, though the firm has now denied any current interest.
For Havas, the noise around WPP comes just weeks after it acquired a majority stake in Gauly Advisors, a prominent corporate and financial communications agency in Germany, now integrated into its H/Advisors global network.
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