French media conglomerate Vivendi has offered to buy Groupe Bolloré's 60% stake in advertising group Havas in a €2.36 billion deal.
Vincent Bolloré's family conglomerate controls both Vivendi and Havas. The deal represents a “first step” in his effort to merge the two companies,
Reuters reported.
“If Bolloré's conglomerate agrees to sell its stake in the ad company, Vivendi plans to launch a simplified public tender offer on the remaining 40 percent of Havas at the same price, without seeking to delist the company,” the Reuters report said.
Vincent Bolloré is Vivendi's chairman. His son Yannick is the head of Havas. (Source: Reuters, May 11, 2017.)
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