27th Apr 2015 05:54
LONDON (Alliance News) - The UK government has told BP PLC it would oppose any potential takeover of the company, amid speculation the FTSE 100-listed oil major could become a target in the wake of the takeover of BG Group PLC by Royal Dutch Shell PLC, the Financial Times reported on Sunday.
British officials told the FT that Downing Street would be "sceptical" about any takeover as it wants the UK to retain two big global oil companies.
The move comes amid wider consolidation in the oil and gas sector, triggered by the fall in the oil price since the middle of 2014. ExxonMobil Inc, the US oil and gas giant, has been tipped by analysts for a possible takeover bid for BP, the FT noted.
http://www.ft.com/cms/s/0/06a3207e-e901-11e4-87fe-00144feab7de.html?siteedition=uk#axzz3YUBqJxb2
By Sam Unsted; [email protected]; @SamUAtAlliance
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