De Pouzilhac has been attempting to counteract the influence of the advertising group's largest shareholder by forming a bloc of friendly shareholders that could help thwart any takeover of the French firm. The move follows the rise in Bollore's stake to more than 20%.
Yesterday, de Pouzilhac said he would block Bollore's attempts to mount takeover of the group and gain control at less than a premium price.
"There is a very clear determination to say no to a creeping takeover if you are not going to pay the right price. If there is a confrontation at the shareholders' meeting, we will be ready," he told The Wall Street Journal.
His comments are likely to reignite bid speculation about the French firm, which has been linked with another French advertising holding company, Publicis Groupe, and the Interpublic Group.
The uncertainty over the future of Havas follows a bad start to 2005 where it has seen its advertising agency Euro RSCG Worldwide and media buying agency Media Planning Group lose key accounts.
It has also hampered efforts to move ahead with plans to seek an alliance for MPG.
Last month, Volkswagen dumped MPG and appointed WPP Group's MediaCom to handle its $350m (£185.7m) US media business. The news followed Havas admitting defeat and pulling out of the protracted $300m Intel advertising and media account review, which has been ongoing since October.
There was better news for Havas earlier this week, as it revealed organic revenue growth of 2% in 2004 on the back of a strong fourth-quarter performance marked by a recovery in its UK fortunes.
Havas brought in 2004 revenues of €1.49bn (£1.03bn) compared with 2003 revenues of €1.65bn. These revenues were reduced by Havas selling off parts of its business as it restructured in the wake of the advertising recession.
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