Posted by John Donovan: 14 April 2024
In a stunning twist, Shell, Britain’s oil giant turned Wall Street wannabe, is eyeing a breakup with London. What’s the fuss? Well, according to CEO Wael Sawan, London’s cramping Shell’s style. But is this really about undervaluation or just a ploy to pump up the share price?
Sawan’s singing the same old tune: London’s dragging Shell down. With taxes, politics, and capital woes, it’s like the city’s throwing a share price pity party. “I have a location that clearly seems to be undervalued,” he moans to Bloomberg. Cue the violins.