Havas investment sparks questions

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The Dec. 16 announcement that Putnam Investment Management and Putnam Advisory Co. have upped their stake in French ad group Havas Advertising has reignited speculation about the network's future ownership. One month ago, Putnam controlled just 5.77%; now it owns more than 11%. The investment is seen as speculative, prompted by incessant rumors that the company is ripe for takeover.

Copyright December 1999, Crain Communications Inc.

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