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Investing.com -- Shares of WPP fell around 3% on Tuesday after Havas Group denied media reports suggesting the two advertising groups had engaged in merger or investment discussions.
The decline followed earlier speculation, reported by The Times and other outlets, that Havas and several private-equity firms, including Apollo Global Management and KKR, had evaluated potential transactions involving WPP.
These scenarios included a possible stake purchase, a full takeover, or bids for selected business units.
WPP has faced sustained pressure this year, with its market value falling to roughly £3 billion. The company has also issued profit warnings and is restructuring operations under its new chief executive, Cindy Rose.
Havas moved quickly to counter the reports. CEO Yannick Bolloré, in an email sent to employees on Monday and seen by Bloomberg, said the company was “not in discussions with WPP.”
He said Havas continues to pursue smaller, targeted acquisitions and is not engaged in large-scale deal negotiations of the type described in recent media coverage.
The denial tempered the takeover speculation that had lifted WPP shares in the previous session. Market analysts said the stock’s reaction reflected uncertainty about WPP’s strategic direction and the limited visibility around any potential transaction.
Private-equity interest in WPP has been the subject of periodic reports in recent months, driven largely by the group’s reduced valuation and industry-wide shifts toward data, technology, and AI-driven marketing services. No parties have publicly confirmed active talks.