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Soco International confirms merger talks with Kuwait Energy

Staff Writer |
Soco International confirmed that it is in talks with Middle East based peer Kuwait Energy over a possible merger of equals.

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Shares in the company were up 11% on Monday afternoon at 124.60 pence per share.

SOCO said a potential "merger of equals" would fit into its plan to strategically reshape the business and grow its portfolio.

The company stressed talks are at preliminary stages and said there is no certainty of an agreement.

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