01:01 AM EDT, 07/23/2026 (MT Newswires) -- The European Commission said Wednesday it commenced an in-depth investigation into the proposed merger between energy contractors Saipem (SPMI.MI) and Subsea 7 (SUBC.OL). The commission said preliminary findings of the transaction showed it was largely complementary, and that it would further consolidate the market for subsea umbilicals, risers, and flowlines services that are also utilized in carbon capture and storage projects. The regulator set a Nov. 26 deadline for its decision.

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