Financial Times: Total chief quashes Shell speculation
“Thierry Desmarest, chief executive of Total, the French oil group, yesterday poured cold water on speculation he was interested in bidding for Anglo-Dutch rival Shell.”
By Martin Arnold
Published: September 9 2004
Thierry Desmarest, chief executive of Total, the French oil group, yesterday poured cold water on speculation he was interested in bidding for Anglo-Dutch rival Shell.
The current environment of high oil prices was “not conducive to profitable acquisitions,” he said.
“Even if it is undergoing a difficult period now, I am sure the quality of people at Shell will help it get out of its troubles,” he said. “I don’t know who is at the origin of these rumours but it is not us.” read more
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