( August 11, 2026, 04:10 GMT | Official Statement) -- MLex Summary: Saipem’s proposed merger with Subsea7 is likely to substantially lessen competition in the supply of subsea umbilicals, risers and flowlines, or SURF, in Australia, the antitrust regulator has said. In a summary of notice of competition concerns published late on Monday, the Australian Competition & Consumer Commission said its preliminary assessment indicates that the global deal would remove competition between Saipem and Subsea7, “two of a small number of SURF service suppliers with the requisite Australian experience.” The summary follows the regulator's July decision to refer the deal to an in-depth Phase 2 review under the mandatory merger regime. Summary of Notice of competition concerns is attached....
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