OSLO (Thomson Financial) - Trading in Awilco Offshore ASA shares will resume
when the market opens this morning, after the Oslo Bors lifted a temporary
suspension following completion of an investigation into share price movements
amid takeover speculation.
On Friday afternoon the Norwegian stock exchange put a matching halt on the
Norwegian oil-drilling contractor while it investigated "movements in the share
price".
The suspension followed a Wall Street Journal report that a consortium led
by the oil-services arm of China National Offshore Oil Corp was in advanced
talks to buy Awilco for upwards of $2 billion.
At the time of the halt, Awilco shares were up 4 percent in a market that
was down almost 2 percent.
alastair.reed@thomsonreuters.com
ar/jms
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