Italy has approved, with conditions, the merger of Italian energy services group Saipem and Norway’s Subsea7, which plan to create an energy services giant with $25 billion worth of combined revenues, Italian business daily MF-Milano Finanza reported on Tuesday. The Italian government has decided to approve the merger plan, on the condition that Saipem, in which the state holds nearly 13%, gives priority to Italy’s energy infrastructure and keeps all activities considered strategic in Italy, MF reported today, citing a government…
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