By Nicholas Hirst and Andrew Boyce ( July 22, 2026, 15:03 GMT | Insight) -- Saipem’s bid to merge with energy services rival Subsea7 has drawn an in-depth EU probe, with the European Commission citing concerns the tie-up would “significantly reduce competition” in the “already highly concentrated” market for subsea umbilicals, risers, and flowlines, or SURF. It set a new deadline of Nov. 26 to rule on the merger.Saipem’s bid to merge with energy services rival Subsea7 has drawn an in-depth EU probe, with the European Commission citing concerns the tie-up would “significantly reduce competition” in the “already highly concentrated” market for subsea umbilicals, risers, and flowlines, or SURF....
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