Joint Bid Likely

According to unofficial reports, the Royal Dutch/Shell group has invited Kazakhstan's KazMunaiGaz to place a joint bid in the privatisation of Czech oil and chemicals group Unipetrol.

A source from Unipetrol and a direct participant in the tender have confirmed the information but Shell would not comment on the subject.

Speculations that Royal Dutch/Shell could team up with the cash-rich KazMunaiGaz in the bidding helped Unipetrol shares with their five per cent gain for the past week.