The group, which currently owns 36.2 per cent of Havas, has filed a share exchange offer, which would see it take more than 50 per cent of Havas' shares. It has offered an exchange of nine shares of Bolloré for five shares of Havas. The transaction means Havas' shareholders could exchange their shares, while at the same time receiving a 19.5 per cent premium. The premium figure is based on the last price before suspension of the shares of Havas and Bolloré, which happened earlier today pending company statements.