Prysmian closes Xtera deal as Stellantis shipments fall - 13 October 2026

As of October 13, today’s news highlights Prysmian's strategic acquisition and the evolving landscape in the automotive and tech industries. Prysmian has completed the acquisition of Xtera, a UK-and U.S.-based specialist in turnkey submarine telecom systems, through the joint venture between Prysmian (80%) and Fincantieri (20%). The closing marks a significant step in Prysmian’s expansion in submarine telecommunications, combining Xtera’s proprietary repeater technology and expertise in regional and long-haul systems with Prysmian’s leadership in submarine cable technology, manufacturing and installation, the company said in a statement. The transaction, announced in December 2025, implies an enterprise value of 65 million dollars. In the wider automotive sector, reports emerged concerning Stellantis, which revealed a 1% decline in third-quarter global shipments, attributed mainly to a production halt in North America that affected models like the Jeep Grand Cherokee and Compass. The automaker's shipments in North America fell by 12%, while Europe saw a 10% increase, bolstered by a rising demand for electric vehicles. Stellantis is preparing to showcase six new vehicles and nine concept cars at the Paris Motor Show, concurrent with a 60 billion euros turnaround plan announced earlier this year. Turning to the tech sector, significant shifts are occurring in the semiconductor market as worries about rising interest rates affect investor sentiment. AI supplier stocks are experiencing a notable selloff, signaling potential volatility in this previously booming sector. The Philadelphia semiconductor index has recorded a downturn, mirrored by declines among major South Korean chipmakers. Analysts highlight that the current market pressures may lead to decreased investments in AI infrastructure. On the global supply front, Europe's dependence on liquefied natural gas is underscored by recent diversions of tankers from Asia to Europe, responding to tightening supplies and low gas inventories as the heating season approaches. Analysts indicate that European gas storage levels are insufficient, emphasizing the region's need to replenish stocks.