Saipem-Subsea 7 Merger Faces EU Antitrust Probe

The proposed merger between Saipem and Subsea 7 is headed for a full-scale European Union antitrust investigation, Reuters reported. The deal, which would combine two of the world's largest offshore oil and gas engineering firms, has drawn scrutiny over competition concerns in the subsea services market.

EU regulators are expected to open a formal probe after a preliminary review found the tie-up could reduce competition in key segments such as pipeline installation and subsea construction. The companies have been notified of the pending investigation, according to the report. No timeline for a final decision has been disclosed.