Regulators to give nod to Shell’s £55bn merger

SHELL’S £55bn mega-merger with BG is expected to get a green light from Australian and Chinese regulators by early next year.

It needs approval from five different authorities around the world: the European Union, America, Brazil, Australia and China.

The EU, the Brazilians and one Antipodean authority, the Australian Competition and Consumer Commission, have given the go-ahead. Sources said they anticipate clearance from the Australian Foreign Investment Review Board and from Chinese regulator Mofcom by early next year.

Leaping the regulatory hurdles will be a big step forward for Shell, whose partnership with BG will create Britain’s biggest stock market-listed company. It will then need to win the support of both sets of shareholders.

The persistently low oil price has resulted in doubts in the City over the merger but Shell is pressing ahead.