- May 20, 2009
well, BP seems to be on the shortlist of PetroChina.=xD
Speculation is growing that BP's depressed share price may make it a target for a possible takeover.
"I can understand exactly as to why somebody else would want to buy the BP assets because I think they are grossly undervalued at the moment," said Robert Talbut, of Royal London Asset Management, a BP shareholder.
In a recent research note, Standard Chartered suggested that PetroChina - a subsidiary of China's state-owned national oil company - should make a bid for BP in order to gain a global presence.
"As a shareholder, it's not something that I would welcome and it's certainly not at this sort of share price I would be willing to sell at," Mr Talbut said, in response.