Business
UK competition watchdog to probe Subsea 7-Saipem merger
UK competition watchdog to probe Subsea 7-Saipem merger
About this update from Saipem S.p.a.
Britain's competition regulator said on Tuesday it has started a probe into the merger between Norway's Subsea 7 OSL:SUBC and Italy's Saipem MIL:SPM for probable competition concerns in the energy services sector. The phase 1 investigation into the all-share deal, that will form a leading global player in offshore energy services, has a deadline of November 25, the Competition and Markets Authority said.