New Wave Media

July 25, 2018

Saipem, Subsea 7 Discussed Tie Up a Few Years Ago

(Photo: Subsea 7)

(Photo: Subsea 7)

Italian oil services company Saipem was in talks with rival Subsea 7 several years ago over a possible tie up but negotiations fell through, the group's CEO said on Wednesday.

"Some 3-4 years ago, before I became CEO there were contacts and talks that did not work out," Stefano Cao said on a call on second quarter results.

Cao said there was nothing in this direction today.

(Reporting by Stephen Jewkes, editing by Giulia Segreti)

oil servicesSaipemSubsea 7