Running the scenario conditions appear very different to London

The conflict, long content between Aegis and Vincent Bolloré, hardens brutally. The British Directorate of marketing and market research group announced yesterday that it would recommend to its shareholders to vote against the two candidates presented to the Board of directors by the Bolloré group, its main shareholder Philippe Germond, former Director General of Alcatel, and Roger Hatchuel, former President of the international Festival of Cannes advertising film to the Board of Directors. In the aftermath, postponed to 14 June the General Assembly to decide.

At Aegis, it justifies the refusal "by the existence of a conflict of interest evident, Vincent Bolloré, shareholder of Aegis, also being the main shareholder of Havas and, therefore, one of our major competitors." "By virtue of the Government of British business, if he had no involvement in Havas, it is likely that his request would have been accepted." In doing so, any other proposal of Vincent Bolloré should wipe identical failure.

"Enough independent steps".

The British company appears to have also held that the proposed appointments would be not "sufficiently independent. Non-employees of companies of the Bolloré group or group Havas, the two proposed directors are, in fact, deemed close to breton businessman. Roger Hatchuel, in particular, has with him from the bonds of friendship over the years and his name had been mentioned last year, at the clash between Vincent Bolloré and Alain de Pouzilhac for the Presidency of Havas. Philippe Germont, he was a member of the Executive Committee of Vivendi and would, according to Aegis, kept contacts in the Havas group.

"Unfriendly approach".

Finally, the British group insists on "the unusual aspect" of the request of Vincent Bolloré, it having been made Tuesday, May 17, at 3 p.m., a few hours before the legal expiry of any period, set at midnight, a week prior to the General Assembly. "It is an approach which seemed neither conventional nor friendly," said the spokesman for the group. However, Aegis wishes to clarify that "this is not a refusal related to the proposed figures, but a conceptual refusal." "Any administrator proposed by the main shareholder of Havas would have been otherwise disqualified."

An air of déjà vu

On paper at least, the scenario adopted by Vincent Bolloré with Aegis appears to take the same path that was used to Havas: introduction in the capital with the assurance of friendly intentions, then mounted progressive 27,56 and application for the appointment of Directors followed by a refusal of the Directorate. The Havas scenario is was concluded on 9 June, by the victory of Vincent Bolloré OPA and the eviction of its President Alain de Pouzilhac. Running the scenario conditions appear very different to London. Vincent Bolloré is in a British capitalism which it less control the workings and where it is not, in contrast to the French market, as a key to the financial establishment figure.

Especially, number one European purchase and studies media, Aegis is not the same financial fragility as Havas last year, fragility used as a major argument to convince shareholders. Vincent Bolloré therefore share in the war, but under less favourable conditions.