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Amsterdam listing and ‘flexibility’ a step closer for Havas

Havas has taken the next step towards a listing on Euronext Amsterdam. Owner Vivendi has put out a prospectus stating that the move will “provide additional flexibility” and allow Havas to invest in “high-growth markets and areas such as data-driven marketing, technologies and AI.”

The stated aim is to make Havas more attractive for talent and clients as well as guaranteeing its independence. For tax purposes, Havas will remain a French resident.

Yannick Bolloré, chairman and CEO of Havas, said: “Over the past weeks, we have engaged in dialogue with investors to outline why Havas is ideally positioned to capture the growing demand in the communications and advertising market. We expect this transaction to provide us with the flexibility to strengthen our position as a leading global communications group and accelerate the implementation of our ambitious converged strategy to even better serve our clients.”

Shareholders will be hoping to make some money, but it’s a gamble. Holding company valuations facing mixed fortunes, with Publicis Groupe currently worth around three times as much as WPP.

Havas’ value may be buoyed up by its two creative flagships, Uncommon Creative Studio and BETC Paris. Ironic given that media is generally where the money is.

We’ve speculated before about what this might mean for the group. It looks like Bolloré’s intention is to pursue the acquisition route, but shareholders may be open to offers at the right price.

 

 

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