October 20, 2014 / 7:17 AM / 3 years ago

Havas stock jumps, Bollore's slumps after exchange offer

The logo of the French global advertising, digital and communications group Havas is seen at the company's headquarters in Puteaux, western Paris, September 8, 2013. REUTERS/Benoit Tessier

PARIS (Reuters) - Shares in Havas EURC.PA jumped as much as 9.4 percent in early trading on Monday after French tycoon Vincent Bollore launched an exchange offer on the stock on Friday with a view to gain control of the world’s sixth-largest advertising company.

In contrast, shares in Bollore (BOLL.PA) fell at the stock market’s opening and were 6.3 percent lower at 3:05 a.m. EDT.

The Bollore group started investing in Havas over 10 years ago and currently owns 36.2 percent of the company, which has a market value of around 2.4 billion euros ($3.06 billion) and is headed by Bollore’s son Yannick.

Reporting by Natalie Huet; Editing by Brian Love

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