Havas CEO Yannick Bolloré on Monday dismissed speculation of a potential deal with WPP, clarifying in an internal memo to employees that the French holding group is not engaged in any discussions with its British rival.
As per media reports, the clarification comes two days after multiple outlets reported that Havas had engaged in discussions with WPP regarding a potential minority stake in the business- rumours the company had earlier chosen not to address.
According to media reports, in a staff memo, Bolloré acknowledged that the circulating rumors had raised concerns among employees and clients, making a direct response necessary. While reiterating the company’s usual stance of not commenting on market speculation, he stated, “We want to clarify that we are not in discussions with WPP.”
The speculation around Havas and WPP emerges at a time when the advertising industry is witnessing significant consolidation. Omnicom’s $13.5 billion acquisition of Interpublic Group is likely to close this month, marking the largest agency holding company merger in history.
