Shell is holding early-stage talks to acquire rival BP in what would be the largest oil deal in a generation, people familiar with the matter said.Talks between company representatives are active, the people said,

British oil giant Shell is denying reports that it is in talks to buy rival BP. The Wall Street Journal on Wednesday said Shell was holding “early stage talks," to acquire its smaller rival, citing people familiar with the matter.

Shell denied that it was in talks to buy BP after the Wall Street Journal reported on Wednesday that the oil major was in early discussions over a takeover of its British rival.