April 3, 2018 / 10:56 AM / 2 years ago

EU regulators to decide on Prysmian-General Cable deal by May 8

BRUSSELS (Reuters) - EU antitrust regulators have set a May 8 deadline to decide whether to allow Italian cable maker Prysmian’s (PRY.MI) $3 billion acquisition of U.S. peer General Cable BGC.N.

Prysmian, which sells cable to the energy and telecoms sectors, sought approval from the European Commission on March 28, a filing on the EU authority’s website showed on Tuesday.

The Commission can clear the deal with or without concessions or it can launch a four-month investigation if it has serious concerns the takeover may hurt rivals and customers.

The takeover gained unconditional clearance in the United States on March 9.

Reporting by Foo Yun Chee; editing by Jason Neely

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