Abu Dhabi state oil company reportedly looked at buying BP

Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firms

Abu Dhabi’s state-owned oil company reportedly recently explored a multibillion-pound bid for BP in a sign that depressed share values in London are making even the biggest British businesses takeover targets.

Abu Dhabi National Oil Company (Adnoc) considered options including purchasing BP or acquiring a large stake before deciding it was not the right fit and abandoning preliminary discussions, according to Reuters.