Yahoo! News: Shell declines comment on Repsol bid report: “The Royal Dutch/Shell Group declined to comment on a newspaper report claiming it is considering a bid for Spanish oil giant Repsol YPF” (ShellNews.net) 12 Jan 05

Wednesday January 12, 08:35 AM  

LONDON (AFX) - The Royal Dutch/Shell Group (LSE: SHEL.L - news - msgs) declined to comment on a newspaper report claiming it is considering a bid for Spanish oil giant Repsol YPF (Madrid: REP.MC - news).

'We don't comment on market rumours,' a Shell spokesman said.

The article, which appeared on Spanish daily La Gaceta de Negocios, said Shell is plotting a 23 eur per share bid for its rival, whose operations span from Latin America, the Middle East to North Africa.

Repsol last month agreed to acquire Shell's liquefied petroleum gas business in Portugal. The pair are also working on a liquefied natural gas project in Iran which is estimated to cost around 4 bln usd.

At 8.14 am, Shell Transport & Trading shares were off half a penny at 444-3/4 pence.

http://uk.biz.yahoo.com/050112/323/fa4ba.html

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