(FILES) Picture taken 03 May 2006 shows an Osborne bull at a Repsol gas station at Valdemoro, near Madrid. Spain's companies, boosted by a lengthy economic expansion at home, cheap borrowing costs and favourable tax laws, have shed a once-local outlook to become prolific buyers of foreign firms. AFP PHOTO/Pedro ARMESTRE Photo: PEDRO ARMESTRE

Repsol soars on Gas Natural talk

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.

23 March 2007 12:26 GMT Updated 23 March 2007 12:26 GMT

By Anthea Pitt

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

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Repsol soars on Gas Natural talk