Prysmian signs €5.5 billion Molex deal in data center push

Italian cable maker Prysmian has signed a long-term agreement worth up to €5.5 billion ($6.4 billion) with Molex, an electronics company owned by U.S. group Koch, to supply fibre optic cables for data centers.

The deal of up to 10 years includes a €550 ‌million upfront ⁠payment, Prysmian ⁠said in a statement.

Prysmian’s shares rose more than 2%, with ​analysts saying the accord provided more certainty on the outlook for profit ​margins.