PARIS (Reuters) – European shares rose in early trade on Wednesday, led by surges of energy values at the news that Royal Dutch Shell agreed to acquire BG Group for 47,000 million pounds in the first mega-merger in the oil sector in a decade.
BG shares rose 39 percent, while Tullow Oil gained 9.8 percent, BP was up 4.4 percent, Repsol added 2.4 percent and Total climbed 0.9 percent.
“The agreement has been made based on the net asset value, and good price upward revaluation feed throughout the industry,” said a trader based in Paris.
At 0710 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,613.95 points, after rising 1.6 percent on Tuesday.
(Reporting by Blaise Robinson editing by Madrid;. Edited by Carlos Mesa Aliaga via Santiago)
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