UK government would oppose any takeover of BP: FT

April 26, 2015 10:00 PM

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UK government would oppose any takeover of BP: FT

(Reuters) - Britain's outgoing government has told BP Plc (BP.L) that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported.

The message follows the $70 billion deal to acquire rival producer BG (BG.L) by oil major Royal Dutch Shell (RDSa.L), which has sparked speculation of a larger wave of consolidation similar to the one at the end of 1990s during another oil price decline.

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