Italian cable maker Prysmian is exploring the market for a potential acquisition of about 4 billion euros ($4.68 billion) enterprise value, CEO Massimo Battaini told Bloomberg News in an interview published on Tuesday.
“We now have the financial strength to resume our M&A strategy,” Battaini told Bloomberg, adding that Prysmian could announce deals within 12 months, potentially comparable in size to Encore Wire, bought in 2024 for about 4 billion euros.
Prysmian shares were up 5.5% at 12:40 pm GMT, after rising as much as 6.7% to a new record high.
Last month, the company confirmed its 2026 guidance, and Battaini said Prysmian was close to striking some long-term deals with hyperscalers for future growth in data centres.
The CEO told Bloomberg that these long-term deals could lift optical cable capacity by 40%–50% in the next couple of years, and that the investment was set to exceed $1.2 billion over three years for revenues of more than $5 billion.
The M&A strategy and the long-term agreements with hyperscalers will help the company beat its 2026 guidance of adjusted EBITDA between 2.63 billion euros and 2.78 billion euros, according to the report.
During a media call on first-quarter results, Battaini had indicated that the 2026 outlook could be raised in the coming months.
Source: Reuters.com