WPP shares soar on takeover rumours, Havas hoses down speculation
"No plans to buy": Cindy Rose, Yannick Bollore
Havas CEO Yannick Bolloré has reportedly shut down speculation that the company is in talks to buy a stake in WPP, as its holding-company rival continues to enjoy a share-price surge amid the rumours.
In a staff memo obtained by Bloomberg, Bolloré issued a direct rebuttal to suggestions that Havas was considering acquiring part or all of WPP.
“It’s our policy not to comment on market rumours; however … we want to clarify that we are not in discussions with WPP,” Bolloré reportedly wrote.
You know times are tough when not even Havas wants to buy you!