Two of Europe’s biggest oil companies, Shell and TotalEnergies, are considering abandoning their stock exchanges for Wall Street in a move that would deal a hammer blow to London and Paris.
Britain’s Shell (SHEL) is the second-largest company on London’s FTSE 100 index, representing 8.4% of its total market capitalization, while France’s TotalEnergies (TTE) is the fourth-largest on the CAC 40 index, accounting for 6% of its value.
Despite their local heavyweight status, both have recently expressed frustration with the low value of their stock compared with US oil majors, and floated the idea of moving the listing of their shares…
