Monday 14 May 2018

EU approves cable firm merger

The EU has approved the acquisition of US-based General Cable by Italian firm Prysmian.

Both companies are globally active in the development, manufacturing and supply of cables used in the energy and telecommunications industries.

The EU investigated the companies' overlapping activities in optical fibres, general wiring and power cables of different voltages, both for submarine and underground use.

It concluded the proposed acquisition would raise no competition concerns as a number of strong competitors will remain in the market after the transaction.