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Havas stock jumps, Bollore's slumps after exchange offer
October 20, 2014 / 7:17 AM / 3 years ago

Havas stock jumps, Bollore's slumps after exchange offer

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.

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

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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