Prysmian exits YOFC stake as markets and geopolitics shift - Sep 16, 2025

As of September 16, today’s news highlights significant developments involving Prysmian as it completed its divestment from YOFC, as well as market movements and geopolitical events. Prysmian, through its fully owned subsidiary Draka, has agreed to sell all its remaining H shares of Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC), representing about 5% of the capital, at a price of 47.1 Hong Kong dollars per share. The gross consideration to Draka from the placement amounts to approximately 1.8 Hong Kong billion dollars (equivalent to approximately 193 million euros). Prysmian has raised a total of around 550 million euros through the YOFC share disposal, which it completed in five tranches, according to a Reuters calculation. Turning to market updates, Terna announced today that, together with Nexans, it has begun laying the first section of the western branch of the Tyrrhenian Link in Fiumetorto, in the municipality of Termini Imerese. Meanwhile, Saipem is in preliminary talks to sell some robotics and underwater assets to shipbuilder Fincantieri ahead of its merger with Norway’s Subsea 7 SA, according to people familiar with the matter. Anglo American and Codelco have completed an agreement to jointly operate their copper mines in Chile, focused on enhancing production capabilities and unlocking approximately $5 billion in value over the next 21 years. On the commodities front, Mercuria has plans to withdraw around 100,000 metric tons of aluminium from LME warehouses, a strategic move that could reduce its dominance in aluminium trading. Meanwhile, copper prices are under pressure as stakeholders react to weaker demand in China following a recent surge that brought prices to a 15-month high. From a technological standpoint, Nvidia's new RTX6000D AI chip targeted at the Chinese market is encountering tepid demand. Major Chinese tech firms are reportedly hesitant to place orders, citing high costs and performance concerns compared to earlier models still accessible through alternative channels. In geopolitical news, Israel has launched a major ground offensive in Gaza, marking an escalation in military operations that has led to significant civilian displacement and casualties amid heightened bombardments.