Domestic

PetroChina official denies China Gas bid

(Agencies)
Updated: 2011-04-08 17:44
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HONG KONG - PetroChina Co Ltd, the world's second-biggest oil and gas producer by market value, is not considering a bid for natural gas distributor China Gas Holdings Ltd, Reuters reported Friday, citing a company official.

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PetroChina spokesman Mao Zefeng denied an earlier acquisition report by saying that PetroChina has no plan to acquire a listed gas company in the foreseeable future, the report said. The Financial Times said that the oil major was working with Bank of America Merrill Lynch on the deal, citing unidentified sources.

Hong Kong-listed shares of China Gas had jumped more than 8 percent on Friday after the earlier report.

The board of  China Gas also issued a statement to the Hong Kong stock exchange that the company has not received any bid from PetroChina, the report said.

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