BGN Entrepreneur

Heritage Oil has scrapped a merger with Turkey’s Genel Enerji that would have catapulted it into the FTSE100. A spokesman for Heritage said that it had ditched the tie-up due to concerns over an ongoing dispute about the distribution of revenues in Kurdistan, where oil exports have been suspended.
The firm’s share price has soared ever since June when the company it was in talks with Genel to create a firm valued at around £3bn.

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