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Prysmian in talks over potential acquisitions, won't overpay-CEO
April 12, 2017 / 3:50 PM / 8 months ago

Prysmian in talks over potential acquisitions, won't overpay-CEO

MILAN, April 12 (Reuters) - Italy’s Prysmian, the world’s largest cable maker, is discussing potential acquisitions but does not to overpay and offers it has submitted so far have been rejected, Chief Executive Valerio Battista said on Wednesday.

Prysmian, which manufactures telecoms and power cables, became the sector leader in 2011 when it bought Dutch rival Draka. The company has gone on acquiring small and medium-sized companies in recent years.

“We’ve filed offers ... that have been rejected ... they didn’t like the price,” Battista told journalists after a shareholder meeting, adding however talks were still going on.

He declined to give details on potential targets and just said one of the companies was medium-large sized. (Reporting by Francesca Landini and Massimo Gaia, editing by Valentina Za)

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