Shell has ‘no intention’ of making offer to buy BP after £60bn takeover rumours

Shell doubles down on denials after media reports of early talks with rival BP to create £200bn UK oil company

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Shell has said it has “no intention” of making an offer for the rival fossil fuel company BP after speculation it had been planning a £60bn takeover, ruling out a formal approach for the next six months.

In an official statement to markets on Thursday, the company doubled down on the previous day’s denials that it was planning a bid, after media reports that it was in early talks with its competitor to create a £200bn UK oil supermajor.