Faaez Samadi
Jun 23, 2017

Vivendi/Havas deal a fortnight away: Bolloré

The deal requires final clearances in US and Russia, but no problems are anticipated.

Yannick Bolloré (centre)
Yannick Bolloré (centre)

Yannick Bolloré, CEO and chairman of Havas Group, said yesterday at Cannes that the US$2.6 billion merger between the advertising agency and French media giant Vivendi is extremely close to completion.

At a press conference at Cannes Lions 2017, Bolloré said the two companies, both controlled by his father Vincent Bolloré, will combine to “create a unique company” that is the largest in the media, entertainment and communications space, with a market capitalisation of €28 billion.

“I would have loved to announce [yesterday] that the deal has closed, but we need to wait, I think, a couple of weeks to get the approval from US and Russian antitrust authorities,” Bolloré said. “We don’t expect any formal issues, but we need to wait two weeks.”

Elaborating on the industry more generally, Bolloré made reference to the number of technology companies and consultancies “taking over the Palais” at Cannes Lions.

While it was great to “see so much talent being creative”, Bolloré said partnering with such a company was not on his agenda because “I don’t believe from a cultural standpoint it really works”.

The new combined company, he said, will have its own unique assets to offer clients, and brands and tech players were already “very excited and looking forward to what can be achieved through our unique partnerships”.

Related Articles

Just Published

2 days ago

Google report sees glimmer of recovery in travel ...

Consumers will prioritise hygiene, use travel bubbles and begin with short vacations, a new report suggests.

2 days ago

The Apprentice, refreshed, leads One Championship ...

With live events on hold, the mixed martial arts promoter will be presenting a revamped spin-off of the reality-TV format to help keep its global audience of millions, and brands, hooked.

2 days ago

Dentsu Aegis to allow Australia staff to WFH for ...

Move comes after internal survey found overwhelming majority of staff want to maintain the current work-from-home arrangements.

2 days ago

Japan law tightens regulation of major ecommerce ...

TECH BITES: Law addresses concerns that tech giants are abusing their market power and leaving small businesses out of pocket.