Shell and Texaco are holding talks that are expected to lead to the merger of their petrol station chains in Europe.
If the deal is successful, it will create Britain’s largest petrol retailer with up to 21% of the market.
It is understood that Shell has hired surveyors to determine a fair value of Texaco’s assets which are thought to be worth up to £1bn.
The Sunday Telegraph Business 05/07/98 page 1
