Italian natural gas pipeline operator Snam has delayed the finalization of its acquisition of a stake in Germany's largest independent gas transmission operator, Open Grid Europe (OGE).

The deal, originally slated for a late September close, is now under review by Snam's new leadership and shareholders.

According to a report by Italian financial newspaper Il Sole 24 Ore, the agreement is being reassessed by new CEO Agostino Scornajenchi. The deal was signed in April by his predecessor, Stefano Venier. 

Snam had agreed to buy a stake in Vier Gas Holding, OGE's parent company, from Abu Dhabi's Infinity Investments for 920 million euros ($1.08 billion). This transaction was expected to mark Snam's entry into Europe's largest German gas market. But the report suggests that the review's outcome is uncertain. 

Adding to the complexity are concerns from the German government about a share held by China's State Grid in CDP Reti, a company that owns over 30% of Snam. 

Both Snam and the German economy ministry declined to comment on the report, with the uncertainty surrounding the deal leaving many wondering about its future and the broader implications for European energy market consolidation.