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| Name | Symbol | Market | Type |
|---|---|---|---|
| WPP PLC | NYSE:WPP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.255 | 0.51% | 50.495 | 50.64 | 50.07 | 50.38 | 89,525 | 20:47:31 |
From May 2019 to May 2024
By Nadya Masidlover
PARIS--Groupe Bolloré, the conglomerate controlled by French billionaire Vincent Bolloré, has sold a EUR601 million ($655 million) stake in Havas SA, the French advertising group run by Mr. Bolloré's son, Yannick.
The sale of a block of 93.9 million shares, equivalent to a 22.5% stake, at EUR6.40 a share was larger that the 17% tranche Bolloré had originally intended to sell, the company said on Thursday.
Demand from institutional investors for stock in France's second biggest advertising group was such that the group decided to sell a bigger stake, Bolloré said.
After the sale, Bolloré continues to hold around 60% of the capital in Havas, one of Europe's biggest advertising agencies behind WPP PLC of the U.K. and France's Publicis SA. The company said it has entered a one-year lock up agreement for the remaining Havas shares.
The change in Havas' shareholding comes as Vincent Bolloré himself is in the spotlight as chairman of Vivendi SA where a U.S. activist fund wants the media group to boost shareholder returns and clarify its strategy ahead of next month's annual meeting. Mr. Bolloré owns 8.2% of Vivendi whose main assets include pay-television unit Canal Plus and Universal Music.
Write to Nadya Masidlover at nadya.masidlover@wsj.com
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