Shell Denies $80 Bln Merger Talks With BP

(RTTNews) - Shell said it is not holding any talks about a possible merger with its rival BP. The deal, if it happened, could cost over $80 billion and be the biggest energy merger in decades, according to the several media reports.

"No talks are taking place. As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification," a Shell spokesperson reportedly said.

The denial came just after a Wall Street Journal report claimed that Shell was in early discussions to buy BP, a rumor that's been circulating for some time.

As of Wednesday, BP had a market capitalization of approximately $82 billion, while Shell's market capitalization stood at over $212 billion.