20th Apr 2015 11:45
LONDON (Alliance News) - Urals Energy PLC Monday said that it has not been approached about a possible takeover, although it noted speculation about such a move online.
In a statement, Urals Energy said the speculation was "unfounded".
"The company confirms that it has not received an approach with regards to a possible takeover of Urals Energy," the exploration and production company said. "Aside from the unfounded speculation, the board is not aware of any reason for today's share price movement".
Urals shares were up 4.8% at 2.75 pence on Monday but had risen to as high as 4.15p.
By Samuel Agini; [email protected]; @samuelagini
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