The deal would see WPP take control of market research arm Synovate, valued at around £330m, with the media buying and digital companies, Carat, Vizeum and Isobar, being run by a holding company.
The holding company would be controlled by Bollore, with Hellman & Friedman holding the next largest stake and WPP the junior partner.
In an interview this morning with French daily Liberation, WPP chief executive Sorrell said: "Vincent Bollore controls Aegis nowadays. I can hardly make any comment on that.
"We are looking at what we could do, with an investment firm. We are busy sharpening our pencils, we have received a certain amount of information but we do not have enough yet," he said.
The possible deal is being considered by Aegis chief executive Robert Lerwill and the board, and they are deciding whether to recommend it to shareholders.
If the deal goes ahead, it would also allow the Havas-owned Media Planning Group to link up with Aegis's media-buying business.
The new three-way deal is the latest in a number of proposed takeovers of Aegis, which has already seen interest from Omnicom Group and Publicis Groupe.
It is likely the deal would have to match the previous highest offer of £1.6bn or just over 143p a share.
Last month, the Takeover Panel gave WPP a deadline of November 25 to table an offer for Aegis or withdraw from the battle.
It is understood that Bollore, who owns 25% of Aegis, has been holding talks with the Aegis board to get them to ask the Takeover Panel for an extension to the WPP deadline.
With talk of an extension to the Takeover Panel deadline, it is believed that Bollore and the Sorrell are looking for more time to put together a deal, making one unlikely before the end of the week.
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