Shell denies report of BP takeover talks

Shell has denied it is in talks with BP over a possible takeover of its smaller rival. The Wall Street Journal, citing a number of sources, reported on Wednesday evening that discussions between the two UK-based energy firms were at an early, but active, stage. Its story was published soon after the London Stock Exchange had closed for the day, but US-listed depository shares in BP were 10% up in New York shortly after publication, while those for Shell were down.