MADRID, Sept 25 (Reuters) – French oil giant Total (TOTF.PA: Quote, Profile,Research, Stock Buzz) and rival Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) are studying buying the 20 percent stake in Repsol (REP.MC: Quote, Profile,Research, Stock Buzz) of building group Sacyr Vallehermoso (SVO.MC: Quote,Profile, Research, Stock Buzz), financial daily Expansion reported on Thursday, without citing its sources.
The pair is also considering buying the stakes of other shareholders in the Spanish energy group, including the 12.7 percent stake of Spanish savings bank La Caixa, it said.
Buying the Sacyr and La Caixa stakes would oblige any buyer under Spanish law to launch a full takeover bid.
Neither Shell nor Total would comment on the report.
The Spanish government has indicated it would look favourably on Total taking over Repsol, Expansion cited sources close to discussions on the issue as saying.
Earlier this month, Sacyr said it could sell its stake as it struggles with a sinking property market and soaring financial costs. (Reporting by Sarah Morris; Editing by Paul Bolding)
© Thomson Reuters 2008 All rights reserved
http://www.reuters.com/article/mergersNews/idUSLP53477320080925
*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.
