Italy launches probe into Edison's gas storage sale to Snam
An aerial view of the SNAM underground gas storage facility in Minerbio, Italy, June 11, 2021. Picture taken with a drone. Photo: REUTERS/Alex Fraser/File Photo
Italy's antitrust agency (AGCM) announced on Monday that it had opened an investigation into Edison's sale of its gas storage unit to gas grid operator Snam.
AGCM said in its weekly bulletin it would probe whether the deal could significantly restrict competition "by strengthening Snam's dominant position in the gas storage market," News.Az reports, citing foreign media.When the two companies announced in July the deal for the three gas storage sites, they said it was worth up to 630 million euros ($656.52 million).
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