The World: Paris - Tatparanandam revealed as Bollore's Aegis bid backer

Krishnan Tatparanandam, the Malaysian billionaire who built the Petronas Towers, has been revealed as a key player in the bid by Vincent Bollore (pictured) to get seats on the Aegis board. The Manila-based company EFL, owned by Tatparanandam, voted its 2.26 per cent Aegis stake in favour of the French financier's plan.

However, despite EFL's help, Bollore, who owns 29.1 per cent of Aegis, was defeated in his proposal to appoint Philippe Germond and Roger Hatchuel to the board at last week's general meeting.

The move was opposed because other shareholders believe Bollore, the Havas chairman, has a conflict of interest.

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