Majors are largely well capitalised at current (thanks 2014/15!). They'd be walking into a recession looking for bargains. IVZ has a low cost and high return, so would be exactly the sort of thing that they'd still be interested in.
O&G doesn't grind to a halt in a recession, things just get streamlined but business continues, hell the ExxonMobil merger was done during a GFC.
Hell, activity increases in the third world during FCs. ExxonMobil went into Ghana in 2009. Tullow went into Uganda in 2010. Statoil went into Brazil in 2011. BP went into Reliance's blocks in India in 2011. Shell went into Albania in 2012. Total went into Uganda in 2012. Someone being interested in Zim in 2024 really isn't at all out of the question.
IVZ Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
