Prysmian jumps as Battaini eyes $4bn M&A drive - 5 May 2026

As of May 5, today's news is dominated by Prysmian's significant plans for acquisitions and the company's strong market performance. Prysmian's CEO Massimo Battaini indicated in an interview with Bloomberg TV that the company is preparing for acquisitions of approximately 4 billion dollars in enterprise value, marking a renewed focus on its M&A strategy. This potential growth accompanies plans to establish long-term agreements with hyperscalers that would enhance Prysmian's optical cable production capacity by 40% to 50% over the next few years. Following these announcements, Prysmian’s shares soared more than 10%, reflecting bullish investor sentiment. The CEO is also considering reopening discussions about a dual listing in the U.S., which was previously paused due to other operational commitments. On the competitive front, NKT launched an IEEE-qualified medium-voltage splice tailored for North America, aimed at enhancing its market presence amid growing demand for reliable electrical accessories. This product is expected to solidify NKT’s role in major infrastructure projects across the region. Looking at global developments, California officials launched an investigation into a prior offshore wind lease cancellation tied to the previous administration, questioning the legality of a significant payout to an offshore wind firm. Meanwhile, the energy situation in the Middle East remains precarious as the U.S. and Iran vie for control in the Strait of Hormuz, complicating the landscape for oil and shipping. Finally, a Russian missile and drone attack on Ukraine's energy infrastructure killed five people overnight, officials said on Tuesday, as President Volodymyr Zelenskiy denounced Moscow’s ceasefire offer as cynical amid continuing strikes.