Galp Energia, TotalEnergies Investors Will Need More Time to Asses Deal -- Market Talk

Dow Jones12-09

1331 GMT - Galp Energia and TotalEnergies investors need time to digest Tuesday's asset-swap deal, J.P. Morgan analysts Matthew Lofting and Tianyu Wu write. It is difficult to fully understand the implications of the deal, owing partly to the absence of a development plan for the fields, they say. Galp investors are clearly disappointed and might have been expecting a cash component or some insight on how excess cash would be returned to shareholders, they add. The update is more neutral from a TotalEnergies standpoint because it already has a strong long-term inventory pipeline, they add. Galp's shares trade down 12% at 15.22 euros while TotalEnergies' share are up 0.8% at 56.74 euros. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

December 09, 2025 08:32 ET (13:32 GMT)

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