Seplat makes bid approach to Afren

London-listed Seplat has confirmed that it has made a preliminary approach to beleaguered Afren. The company has until 19 January to make a firm bid. Afren has been a potential bid target since July, when it suspended chief executive Osman Shahenshah and chief operating officer Shahid Ullah after uncovering evidence that they had received unauthorised payments. The share price crashed, but many commentators noted that the company’s asset portfolio in West and East Africa and Iraqi Kurdistan remained highly attractive.