The Eur392 million outlay for a 9.9% stake in Prysmian, which specialises in high value-added technology products such as submarine cables and extra-high voltage cables, and ranks as the worldÆs largest cable company, was paid in cash. However, yesterdayÆs transaction will allow Taihan to refinance its short-term credit lines and ensure its cash position remains in good shape, sources say. The Korean company makes cables and wires for the power and communications industries and...
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