Shell doubles down on denials after media reports of early talks with rival BP to create £200bn UK oil company
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Shell has said it has “no intention” of making an offer for the rival fossil fuel company BP after speculation it had been planning a £60bn takeover, ruling out a formal approach for the next six months.
In an official statement to markets on Thursday, the company doubled down on the previous day’s denials that it was planning a bid, after media reports that it was in early talks with its competitor to create a £200bn UK oil supermajor.
Shell said it had not been actively considering making an offer for BP, adding it “has not made an approach to, and no talks have taken place with, BP with regard to a possible offer”.
