BP shares soar on report of Shell takeover talks

US-listed shares of BP have risen sharply on a report of a possible takeover by its British rival Shell.

The Wall Street Journal, citing a number of sources, said that discussions were at an early stage but active.

The US publication added that BP was considering the approach.

Its story was published after the London Stock Exchange had closed for the day, but US-listed shares in BP were 10% up in New York while those for Shell were down.

Shell did not explicitly deny the report but guided Sky News towards an earlier statement on speculation of interest in BP which indicated the company was focused on delivering shareholder value through its own operational performance.

BP was yet to comment.

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