Shell denies negotiations with BP

British Shell denies WSJ's information about negotiations with BP about absorption and calls it speculation. This, most likely, means that the company is connected by the instructions of the confluence legislation and cannot make new BP proposals, suggests Bloomberg. On the eve of the news about the negotiations between the BP quotes in New York, they jumped by 10%, but soon fell back.

WSJwrote that Shell still claims to be a competitor and is in the early stages of absorption negotiations. Rumors about the deal have been going on for a long time, and in early May, Bloomberg reported that Shell was really looking at her. WSJ suggested that under the capitalization of BP, $ 80 billion, the transaction will become the largest in the industry in a quarter century, from the merger of Exxon and Mobil in 1998.

Theoretically, a successful moment has been chosen: BPis undergoing a deep crisis of trust and attacks of minoritarian investors. Over the past year, the company has lost almost a third of the value, the fundamental reason is the premature rate on the Green Transition under the former general director Bernard Luni.