Aegis soars as it talks with French about research sale

Aegis shares today rocketed almost 7% as the advertising group confirmed it is in talks to sell its research arm Synovate to French firm Ipsos, with a rumoured price tag of £500 million.

Sources said the approach from the firm that owns pollsters Ipsos Mori was unsolicited and that Aegis is not looking to create a sale or auction process.

But speculation was mounting that other bidders could emerge for Synovate, or even for the group's other key division, Aegis Media, which is responsible for media buying for clients such as Disney and Asda.

City broker Altium Securities said: "We believe this news will effectively place the group in play as a take-out and/or break-up candidate."

Altium said selling Synovate would allow Aegis chief executive Jerry Buhlmann to expand in media buying internationally.

But Aegis's biggest shareholder Vincent Bolloré, with a 26% stake, could play a key role.

Bolloré has long been rumoured as a possible bidder but said earlier this year he now viewed his shareholding as merely a financial investment.

Some observers believe a sale of Synovate could renew Bolloré's interest in the rest of Aegis or prompt him to exit.

Aegis shares, which touched a high of 152p, are now back at 2007 levels.