Shell is holding early-stage talks to acquire rival BP in what would be the largest oil deal in a generation, people familiar with the matter said.Talks between company representatives are active, the people said,

Shell has denied recent reports in the Wall Street Journal suggesting that the oil giant is in preliminary talks to acquire its British rival, bp, reported Reuters. A Shell spokesperson stated: "No talks are taking place.

Shell is in early talks to buy rival BP, the Wall Street Journal reported Wednesday, citing people familiar with the matter. BP’s American depository shares were up 6.5%, while Shell’s were down 3.3%.