Saipem CEO does not see regulatory risks for merger with Subsea7
MILAN, Oct 1 (Reuters) - Saipem SPMI.MI does not see regulatory risks for its planned merger with Norwegian rival Subsea7 SUBC.OL, the CEO of the Italian energy contractor said on Wednesday, shrugging off concerns about potential hurdles in the Brazilian market.
"We firmly believe that there is no reduction in competition, but rather a better offering, and that the creation of a group (with Subsea7) will greatly benefit our customers around the world," Saipem's Alessandro Puliti said, speaking at the Energy Summit conference in Milan.
Exxon Mobil XOM.N, Brazilian state-run Petrobras and oil services provider TechnipFMC 1T1.F petitioned Brazil's antitrust regulator CADE to intervene in the Saipem-Subsea7 merger, public documents seen by Reuters showed.
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