UK govt says it would oppose any takeover of BP: report

London

BRITAIN'S outgoing government has told BP Plc that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported.

The message follows the US$70 billion deal to acquire rival producer BG Group by oil major Royal Dutch Shell, which has sparked speculation of a larger wave of consolidation similar to the one at the end of 1990s during another oil price decline.