PTTEP trumps Shell bid for Cove

THAILAND'S PTT Exploration and Production has offered 1.1 billion pounds ($A1.6 billion) in a counter bid for UK-listed Cove Energy, trumping an earlier Shell offer by 13%.

PTTEP offered £2.20 for each Cove share, with the Africa-focused explorer's shares surging 21% on Friday in London trading, signalling the market expecting an improved bid.

Cove holds 8.

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