Analysts and investors are backing a potential tie-up between tanker giants Euronav and Frontline as a win-win for both sides.

The companies announced on Thursday they have agreed to combine the fleets to create a world-leading company with nearly 150 ships and a market capitalisation of $4.2bn.

World-leading tanker giant born as Frontline and Euronav reveal $4.2bn merger
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The Euronav share price jumped 10.5%