Finance
Snam CEO 'amazed' by lengthy approval for German gas grid deal, report says
Published by Global Banking and Finance Review
Posted on September 25, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 25, 2025
2 min readLast updated: January 21, 2026
Snam's CEO is surprised by the lengthy approval process for acquiring a stake in Germany's gas grid, citing regulatory hurdles.
MILAN (Reuters) -Italy's Snam was amazed by the lengthy approval process it faces over its acquisition of a stake in Germany's largest independent gas transmission operator, its CEO told an Italian newspaper, hinting the group could pull the deal.
The Italian gas grid operator signed a deal in April to buy 24.99% in Open Grid Europe, paving the way for Snam to enter the German gas market.
"The transaction is proceeding... but we are amazed by the lengthiness of the process due to the incredible amount of additional documents requested by the German authority," Snam's CEO Agostino Scornajenchi told daily Il Sole 24 Ore.
The asset is interesting, but Snam would not pursue the acquisition "come hell or high water," Scornajenchi added.
Part of the information requested by the German authority was related to the role of China's State Grid, an indirect investor in Snam, sources told Reuters.
Germany's economy ministry, which is reviewing Snam's acquisition, declined to comment.
China's State Grid owns 35% in CDP Reti, which in turns holds 31.4% of Snam.
In 2018, Germany blocked an attempt by China's State Grid to buy a stake in power grid operator 50Hertz.
($1 = 0.8510 euros)
(Reporting by Francesca Landini in Milan, additional reporting Christoph Steitz in Frankfurt; Editing by Bernadette Baum)
An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control of that company.
A gas transmission operator is a company responsible for the transportation of natural gas through pipelines from production sites to distribution systems.
An independent operator is a company that operates without being controlled by a larger parent company, often focusing on specific sectors or markets.
A stake in a company refers to ownership interest, typically represented by shares, which gives the holder a claim on a portion of the company's assets and earnings.
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