European Commission Scrutinizes Proposed Merger Between Saipem And Subsea7

The European Commission has opened an in-depth Phase II investigation into the proposed merger of Saipem and Subsea7, citing competition concerns in the already-concentrated SURF (subsea umbilicals, risers, flowlines) services market for oil and gas and carbon capture and storage projects. The combined entity would face only one comparable competitor globally, with high barriers to entry and limited spare capacity in this capital-intensive sector.

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