XM does not provide services to residents of the United States of America.

Prysmian eyes organic growth as well as M&A after Encore deal, CEO says

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-Prysmian eyes organic growth as well as M&A after Encore deal, CEO says</title></head><body>

Recasts headline and lead explaining U.S. deal refers to April announcement

MILAN, May 30 (Reuters) -Cable maker Prysmian PRY.MI will look to organic growth as well as acquisitions to expand, its chief executive said on Thursday, as it looks to complete a $4.2-billion deal announced last month.

"We are working on organic growth and also on M&A and a big one is going to materialise in the U.S.", CEO Massimo Battaini said during an online event regarding its acquisition of Encore Wire WIRE.O.

The U.S. competition watchdog on Wednesday gave its green light to that deal. Encore has called a shareholder meeting on June 26 to give final approval to the transaction.

Prysmian expects the acquisition to complete in the second half of the year.

Reporting by Giancarlo Navach, writing by Claudia Cristoferi, editing Gianluca Semeraro and Jason Neely


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.