Government Would Oppose Any Takeover Of BP: FT

(Reuters) – Britain’s outgoing government has told BP Plc that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported. The message follows the $70 billion (46 billion pound) deal to acquire rival producer BG by oil major Royal Dutch Shell, which has sparked speculation of a larger wave of consolidation similar to the one at the end of 1990s during another oil price decline.