Mogul’s stake move puts €2.8bn on Havas

Havas shares today leapt as much as 9% after French mogul Vincent Bolloré announced plans to increase his stake in the world’s sixth-biggest advertising group, which counts Evian and Disney as clients.

Bolloré, whose Groupe Bolloré already owns 36%, wants investors to swap Havas stock for shares in his family-controlled conglomerate.

He is offering a 19% premium that values Havas at €2.8 billion (£2.2 billion) but the shares did not rise as much as the offer will only happen in January. Bolloré shares fell as investors frowned on the plan.

Broker Liberum Capital reckoned he was positioning himself if Havas is sold. Bolloré made a big profit on a stake in Britain’s Aegis when it was bought by Japan’s Dentsu.