Havas chairman and CEO Yannick Bolloré has moved to steady internal nerves after a burst of global speculation linking the company to a potential tie-up with WPP, telling staff the group is “not in discussions with WPP” but acknowledging the possibility of a larger strategic move down the track.
The comments, delivered via an internal memo and reported by Ad Age, mark the first direct response from Havas leadership since reports of “serious talks” surfaced last week.
‘No ongoing discussions of that nature’
In the memo, Bolloré said Havas’s current growth path remains anchored in incremental M&A rather than mega-deals.
“Havas has a strategy of bolt-on and targeted acquisitions that contributes to our strong momentum, alongside strategic partnerships,” he wrote.
“While we could consider a larger acquisition aligned with our strategy, as stated during our Q3 earnings announcement a few weeks ago, there are currently no ongoing discussions of that nature.”
He also urged staff to stay focused amid rising industry noise about holding-company consolidation.
“Undistracted by rumors and noise, we remain focused on accelerating the deployment of our Converged.AI strategy, driving group-wide AI adoption, and delivering excellence for our clients and prospects,” Bolloré said.
“Let’s keep pushing forward with ambition and confidence, shaping the future of our industry together.”
The clarification comes as contradictory reports circulate.
Mediaweek yesterday reported that WPP and Havas were weighing a possible merger or partnership, with one insider describing the conversations as “serious,” while others insisted no formal engagement had taken place.
Both companies declined to comment publicly.
Havas chairman and CEO Yannick Bolloré
WPP’s financial headwinds complicate the picture
Any deal would hinge on WPP’s ability to manoeuvre.
New CEO Cindy Rose, is facing sharp revenue declines and a depressed share price – down more than 60 percent since early 2025 – prompting analysts to doubt the feasibility of a major acquisition.
Reported revenue for the year to date is down 8.0 percent YoY and 2.8 percent LFL, while revenue less pass-through costs has fallen 10.5 percent YoY and 4.8 percent LFL. Full-year guidance now forecasts like-for-like declines of between -5.5 percent and -6.0 percent and an expected margin of around 13 percent.
“There is a lot to do, and it will take time to see the impact, but in my first 60 days we are already moving at pace with some initiatives already announced and more to come,” Rose said recently.
“We know what it takes to win: we are optimistic, energised and confident that we’re building the right plan and the right culture to secure a bright future for WPP, our people, our clients and our shareholders. We look forward to sharing more details early in the new year.”
Industry executives say the financial backdrop complicates the prospect of absorbing a public company like Havas.
One senior figure noted that an acquisition would be difficult “given its current financial struggles and depressed share price,” though others believe consolidation could help restore WPP’s scale and long-term value.
For now, Bolloré’s memo puts a public boundary around the speculation, while carefully keeping strategic optionality alive.