BP Shares Rise on News of Shell Interest

NEW YORK ( TheStreet) -- Shares of BP ( BP) were rising almost 5% in London on a report that Royal Dutch Shell ( RDS.A) was interested in a takeover of the British oil company.

The Daily Mail said Shell considered making a bid for BP after BP shares were battered during the Gulf of Mexico oil crisis.

Shell still remains interested in a merger, the Daily Mail reports.

BP shares rose 4.9% to 4.88 pence in London.

Shell couldn't immediately be reached by phone for comment, the Associated Press reports. BP spokesman Mark Salt declined to comment for the AP.

-- Written by Joseph Woelfel

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