Shell braces for a takeover bid by rival Total

OIL giant Shell is bracing itself for a takeover bid that could come from French rival Total, it was reported yesterday.

Executives at the Anglo-Dutch group were said to have conceded that the company is vulnerable to a predator, according to The Observer.

It is understood that insiders at the oil group fear Total will launch a raid, although there are no indications that board members have spoken about a tie-up. Although Total is smaller than Shell with a market value of £68 billion against more than £94 billion, it is thought that Total is the only firm capable of gaining regulatory approval for a merger.