Saipem takes a breath after rallying on rumors merging with Subsea 7

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(Teleborsa) – Calm session for Saipem in the Stock Exchange after the rally taken Friday on the voices of one maxi merger with the Subsea company 7. The stock is trading at € 4.344 this morning, after reaching a peak of € 4.574 in last Friday's intraday deals, equal to a 5% rise on previous prices.The brilliant performance was motivated by rumors thrown by Bloomberg relating to a possible transaction of aggregation with the Norwegian Subsea 7, aimed at creating a big oil services in Europe. The transaction would combine Saipem with a capitalization of around 4.4 billion and Subsea which is worth 3 billion, for csynergies between the two fleets e generate savings in terms of costs.

In reality, the international agency itself admits that it's just one hypothesis on the table, stating that no decision has been made in this regard, as analysts look at this operation with a bit of skepticism, until nothing more concrete comes to the surface.

Most likely it is just of one of the many possibilities emerged from wide-ranging discussions that the number one of the company, Stefano Cao, is carrying out for the relaunch of the company, with the aim of strengthen the core E&C sector and explore new opportunities or alliances strategic in the most promising sectors for the company, without excluding the new opportunities offered by the energy transition.



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