Havas hasn’t commented (and won’t) publicly on reports over the weekend that discussions had taken place relating to a possible tie-up with WPP.  

But CEO Yannick Bollore told staffers in an internal memo Monday that the firm is not in merger talks with the London-based holding company.  

In his memo, obtained by MediaPost, Bollore reiterated the firm’s current M&A strategy of “bolt-on” and targeted acquisitions to compliment strategic partnerships. 

Bollore referenced remarks made last month by company CFO François Laroze  who said Havas “would certainly consider” talks with Dentsu over its international assets.   

In his memo yesterday, Bollore wrote that while Havas could consider a larger merger, there are currently no ongoing discussions along those lines.   

For now, he added, the firm is focused on accelerating the deployment of its AI strategy throughout the organization and serving client needs. 

After climbing nearly 9% on Monday in the wake of merger rumors, WPP shares on the London Exchange fell nearly 4% today. Havas shares rose about 5% today on the Amsterdam Stock Exchange.