0958 GMT - TotalEnergies' plan to merge its U.K. operations with Hitec and Repsol is latest in a line of consolidation deals, RBC Capital Markets analysts write. The planned merger will create the largest independent oil and gas producer in the U.K., they add. Oil companies in the U.K. are using mergers to deliver greater operating efficiencies and cut costs, they say. One loser from the deal is the U.K. Treasury,which will miss out on tax receipts. The combined entity will pay less tax than the companies would have done separately, they say. TotalEnergies shares trade down 0.8% at 55.93 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
December 08, 2025 04:58 ET (09:58 GMT)
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