Financial Times: European Comment: Not all that far-fetched: “Total’s cautious boss Thierry Desmarest has shown he can pull off big takeovers, with Elf and Petrofina. He has plenty of cash and more to come”
By Paul Betts
17 August 04
It may be silly summer season speculation. At least this is how the markets on Monday took revived talk of French oil champion Total bidding for Royal Dutch/Shell. But is it really so far-fetched?
The odds of Air France merging with KLM always looked slim. How could the French succeed where British Airways failed?
If anyone was to take over the Dutch airline, the British seemed best placed considering the once much-admired Anglo-Dutch business model long established by the likes of Unilever and Shell.