Despite losing a crucial vote at yesterday's AGM, the major shareholder in Aegis said he was prepared for a lengthy battle to be represented on the board.
The Aegis board opposes Bollore on the grounds that his position as chairman of rival Havas means there is a conflict of interest in his representatives sitting on the board.
Speaking to shareholders ahead of the vote yesterday, he warned that he was prepared to engage in a fight with the board.
"We can not ever be represented on the board. We don't believe that's normal and it's not acceptable for us, so it means that we will enter into conflict with the board."
Bollore claimed that he made his first investment in Aegis after being approached by its chief executive Robert Lerwill about a tie-up between the media agencies of Aegis and Havas. Aegis sources disagree with the claim.
"Our position is easy. We have a stake of 29% in Aegis, which is 7% to 8% of our assets and we consider that the investors who risk their money should be represented at the company, when they indicate that they should be there for a long time."
The size of his shareholding entitles him to call an extraordinary meeting, at which he could again put forward candidates for election to the board.
Yesterday, his board candidates Philippe Germond and Roger Hatchuel lost out after Bollore's votes in their favour were outnumbered by opposing votes from other Aegis shareholders, who turned out in force.
As 76% of Aegis shares took part, Bollore's 29% holding counted for almost 40% on the day, but he picked up little other support. His candidates won 41.8% of the total votes, indicating little support from other shareholders.
Bollore also told The Times that he has identified media owner Emap as an investment opportunity for the future, once he has finished "creating value" at Aegis.
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