Prysmian CEO Says Not Interested in Nexans

France cable maker Nexans is not the right target for industry leader Prysmian which is scouting for possible acquisitions, the chief executive of the Italian group said on Tuesday.

 

"There would be several overlaps with Nexans," CEO Valerio Battista said on the sideline of a conference, adding getting antitrust approval for the deal would require Prysmian to sell assets.

 

"It's no use to look at (a target) if you then have to sell assets," he said.

 

Battista has said in the past Prysmian was studying several acquisitions including a possible large deal.


(Reporting by Giancarlo Navach; writing by Francesca Landini, editing by Valentina Za)