Adweek countered its own coverage of the rumored Havas-WPP deal, indicating Havas CEO Yannick Bolloré denied the reported partnership discussions.
It’s a clear sign that the Apocalypse is upon us when leaders of White advertising agencies speak out against alleged falsehoods and lies.
Havas CEO Yannick Bolloré Denies WPP Deal Rumors
In a memo to staff, Bolloré said the company is “not in discussions” with WPP following reports Havas was exploring a minority stake
By Audrey Kemp
Havas CEO Yannick Bolloré on Monday shut down speculation that his company was exploring a deal with WPP, telling employees in an internal memo that the French holding group is “not in discussions” with its British rival.
The clarification comes two days after reports broke in multiple outlets, including ADWEEK, that Havas had held discussions with WPP about taking a minority stake in the business—rumors the company previously declined to comment on.
On Monday, The Guardian reported that WPP shares rose 11% on the speculation, marking the biggest jump on the FTSE 100 that day.
In the staff memo, reviewed by ADWEEK, Bolloré said the rumors had prompted questions from employees and clients and warranted direct clarification. “It’s our policy not to comment on market rumors, however… we want to clarify that we are not in discussions with WPP,” Bolloré wrote.
He also emphasized Havas’ recent performance, including Q3 organic revenue growth of 3.8%, and said the company’s acquisition strategy remains focused on smaller, targeted “bolt-on” deals. However, he left the door open to larger acquisitions “aligned with our strategy,” adding “there are currently no ongoing discussions of that nature.”
The speculation surrounding Havas and WPP comes during a period of consolidation in the advertising industry. Omnicom’s $13.5 billion acquisition of Interpublic Group is expected to close this month, cementing the largest agency holding-company merger in history. Meanwhile, Dentsu is exploring a sale of its international operations.
WPP’s market value has fallen from £25 billion in 2017 to about £3 billion today, placing it at risk of falling out of the FTSE 100.
Below is the full memo Bolloré sent to employees:
Dear all,
It’s our policy not to comment on market rumors, however, given the recent press coverage amplifying these rumors and the questions we’ve received from colleagues and clients, we want to clarify that we are not in discussions with WPP.
As you know, Havas has delivered strong results over the past months in a world full of uncertainties. In Q3, we achieved organic growth of +3.8%, outperforming the market, reflecting remarkable client wins and expanded collaborations with long-standing partners. Thanks to your commitment and energy, we continue to reinforce our market position and drive growth.
Havas has a strategy of bolt-on and targeted acquisitions that contributes to our strong momentum, alongside strategic partnerships. While we could consider a larger acquisition aligned with our strategy, as stated during our Q3 earnings announcement a few weeks ago, there are currently no ongoing discussions of that nature.
Undistracted by rumors and noise, we remain focused on accelerating the deployment of our Converged.AI strategy, driving group-wide AI adoption, and delivering excellence for our clients and prospects.
Let’s keep pushing forward with ambition and confidence, shaping the future of our industry together.
Sincerely,
Yannick
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