France-based advertising group Havas has reportedly rejected suggestions that it is in talks with the UK rival WPP
Bloomberg News reported an internal memo by Havas CEO Yannick Bolloré.
"Given the recent press coverage... and the questions we've received from colleagues and clients, we want to clarify that we are not in discussions with WPP," Bolloré is reported as saying.
According to The Times of London, the French company had expressed an interest in WPP, once the world’s largest advertising network, and its assets.
The Times also quoted senior City sources as saying private equity firms Apollo and KKR had also run a ruler over WPP’s assets.
Shares of WPP surged in London following reports of interest in buying all or parts of the global group.
WPP, facing client losses and fading new business, has a new CEO, Cindy Rose, reviewing the business.
She described as “unacceptable“ September quarter revenue falling 3.5% to £3.259 billion on a like-for-like basis.
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