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Snam cannot wait forever for regulatory ok for Open Grid Europe, CEO says
Snam cannot wait forever for regulatory ok for Open Grid Europe, CEO says
About this update from Snam S.p.a.
Snam MIL:SRG cannot wait forever for the green light from Germany's authority over its planned acquisition of Open Grid Europe, the chief executive of the Italian gas grid operator said on Wednesday.Snam signed a deal in April to buy 24.99% stake in Germany's largest independent gas transmission operator Open Grid Europe, paving the way for Snam's entry into the German gas market.The deal was expected to close by the end of September but the German authority has not yet approved the acquisition.