Shares in French energy services company Technip surged more than 14 percent on Friday after media reports that Italian oil major ENI or Saipem, the engineering firm ENI controls, could launch a 6-billion-euro bid.
A Technip spokeswoman said the company had no contact with either Italian companies, while officials at ENI could not immediately be reached for comment.
Technip shares opened more than 14 percent higher but surrendered some early gains after the spokeswoman denied any contact between the companies. The shares were up 7.44 percent at 55.60 euros at 0849 GMT.
French newspaper La Tribune said ENI was mulling a bid for Technip and that the bid could be submitted early next week. The paper said ENI may want to merge Technip with Saipem, in which ENI has a 43 percent stake.
(Reuters)