Sunday, August 07, 2005
BG & CNOOC
06/08/2005 BG Group a bid target for CNOOC - market report
Story: BG Group saw its shares rise on rumours that CNOOC might make a bid for it, according to an unsourced Mail market report. The UK-listed oil company saw its share price rise 6p to 494.25p, the report said. The logic of the rumour was that China National Offshore Oil Corporation (CNOOC) might look to acquire BG after losing out to Chevron in the auction for Unocal, the US-listed oil company. BG Group has a market capitalization of GBP 17.3bn (EUR 24.8bn).
Story: BG Group saw its shares rise on rumours that CNOOC might make a bid for it, according to an unsourced Mail market report. The UK-listed oil company saw its share price rise 6p to 494.25p, the report said. The logic of the rumour was that China National Offshore Oil Corporation (CNOOC) might look to acquire BG after losing out to Chevron in the auction for Unocal, the US-listed oil company. BG Group has a market capitalization of GBP 17.3bn (EUR 24.8bn).
