'Speculation again'

Shell denies talks on possible BP takeover

Over een samensmelting van de twee Britse concerns doen al tientallen jaren van tijd tot tijd geruchten de ronde.

Oil and gas group Shell denies reports on Wednesday 25 June in The Wall Street Journal that it would be in negotiations to acquire rival BP. “This is again speculation in the market. No talks are taking place,” a Shell spokesperson told news agency ANP.

A merger of the two British groups has been rumoured from time to time for decades. It would be one of the biggest deals in the oil industry ever.

According to The Wall Street Journal, which relied on insiders, talks between representatives of the two companies are said to be in full swing and BP is said to be seriously considering the rapprochement. The BP acquisition would put Shell in a better position to face larger rivals such as ExxonMobil and Chevron.

Investors reacted immediately to the US business newspaper’s article on Wednesday. In so-called after-hours trading, Shell shares fell in value, while BP’s share price actually rose.

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This article was automatically translated from the Dutch language original to English (British).

Author: Nina Koelewijn

Source: MobilityEnergy.com

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