Prysmian Sets Aside Up to €1.1 Billion for M&A in Strategy Plan

Cable specialist Prysmian SpA will set aside as much as €1.1 billion ($1.2 billion) for “bolt-on” acquisitions, mainly in telecommunications, electrification and the power grid business , executives said Thursday, as the company set out its new strategic plan through 2027.

The Milan-based company will reorganize its divisions — renewable transmission, power grids, electrification and digital solutions — to shift toward becoming more of a cable services provider for costumers preparing for energy transition. The reorganization will be implemented at the start of next year.

Prysmian Gains as Citi Sees Reassuring Guidance: Street Wrap

Prysmian said it will allocate €1.9 ...