MILAN (Reuters) -Saipem does not see regulatory risks for its planned merger with Norwegian rival Subsea7, 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, Brazilian state-run Petrobras and oil services provider TechnipFMC petitioned Brazil’s antitrust regulator CADE to intervene in the Saipem-Subsea7 merger, public documents seen by Reuters showed.
(Reporting by Francesca Landini, editing by Gavin Jones)
