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Tuesday, 02 December, 2008, 14:30 GMT | more >>

Repsol soars on Gas Natural talk



By Upstream staff 

Shares in Spanish producer Repsol YPF leapt by 7.6% in trade today on market rumours that utility Gas Natural could bid for the company at a price of €30 ($40.10) a share.

"We are hearing that there's talk of a bid by Gas Natural at €30, although I would say it's very difficult for that to be a cash offer as Gas can't afford it... but it could perhaps be likely that there is a friendly merger movement" a trader in Madrid told Reuters.

Nobody at Gas Natural was immediately available to comment. Repsol has denied the claims, saying any such talk is "unfounded".


Friday, 23 March, 2007, 12:26 GMT  | last updated: Friday, 23 March, 2007, 12:34 GMT

Takeover rumours: swirl around Spain's Repsol
 

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