(Reuters) - Repsol SA (REP.MC) and Talisman Energy Inc TLM.TO have revived talks and are in the process of discussing options that could include sale of a selection of assets or the entire company, Bloomberg reported, citing sources familiar with the matter.
However, Talisman's falling valuation remains a hurdle to a deal, Bloomberg reported. (bloom.bg/1A8Yfkn)
In July, Repsol had approached Talisman, Canada’s fifth-largest independent petroleum producer which has a market capitalization of nearly C$11 billion ($10.2 billion).
The talks between both the companies had broken down in August over Talisman’s North Sea assets which have consistently missed production targets and weighed down its stock.
Representatives at Repsol and Talisman were not immediately available for comment.
($1 = 1.1479 Canadian dollars)
Reporting by Shivam Srivastava in Bangalore; editing by Gunna Dickson