Worldview considering takeover bid for Petroceltic

Petroceltic’s main independent shareholder is considering a takeover offer for the troubled Irish exploration firm.

International investment management firm, Worldview Capital Management is a near 30% shareholder in Petroceltic and has been at loggerheads with the Irish firm’s management for more than a year over the company’s strategic focus.

The latest Irish explorer to feel the heat from the oil price meltdown, Petroceltic launched a wide-reaching strategic review in December, effectively putting itself up for sale.