Shares in London-based Kuwait Energy rose by as much as 15% after it was confirmed the company was in early-stage merger talks with Soco International. Both firms said no deal was guaranteed. Last year, Soco International abandoned its plans for a $150m initial public offering and saw the departure of CEO Sara Akbar. In September, it said it was "still looking" to list in London.
Shares in London-based Soco International rose by as much as 15% after it was confirmed the company was in early-stage merger talks with Kuwait Energy. Both firms said no deal was guaranteed. Last year, Kuwait Energy abandoned its plans for a $150m initial public offering and saw the departure of CEO Sara Akbar. In September, it said it was "still looking" to list in London.