Vivendi to make full offer for Havas after buying out Bollore stake

FILE PHOTO: The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, March 10, 2016. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - Vivendi has bought the Bollore group’s majority stake in advertising company Havas and will follow up with a full buyout offer, it said on Monday.

Media giant Vivendi, also controlled by Bollore, said it bought the 59 percent of Havas owned by Bollore’s holding company for 9.25 euros per share and would launch a tender offer to acquire the rest of the company.

The move was in line with a previously announced plan to link up Vivendi - in which Bollore is chairman and controlling shareholder with a stake of about 20 percent - with Havas.

Reporting by Sudip Kar-Gupta; Editing by David Goodman