Galp Energia sinks as Namibia deal with TotalEnergies rattles investors looking for upfront cash

Galp Energia (GLPEF) (FLPEY) -14.5% in Tuesday’s trading after a long-anticipated deal in which TotalEnergies (TTE) will acquire a 40% stake in Galp’s Mopane oil and gas discovery offshore Namibia discovery failed to meet investor expectations.

Instead of paying cash, TotalEnergies (