(Bloomberg) — Saipem SpA is considering a combination with rival Subsea 7 SA to create a larger European oil services provider, people with knowledge of the matter said.The Italian company is pursuing a potential deal with Norway’s Subsea 7 as it seeks to bulk up and weather an industry downturn, according to the people, who asked not to be identified because the information is private. Shares of Subsea 7 have risen 15% in Oslo trading this year, giving the company a market value of about $3.2 billion.Saipem, whose biggest shareholder is Italian energy giant Eni SpA, is valued at about …read more
Source:: Yahoo Finance
