5:00 PM -- Having broken off merger talks with Draka earlier this year, Italian cable specialist Prysmian has a €1 billion warchest for acquisitions and is looking at growth markets like China, India, and Russia, reports Reuters.

Prysmian SpA and Draka Holding NV (Amsterdam: DRAK.AS) failed to agree on the terms and conditions of a merger that would have created a significant force in the European fiber access market, which is set to grow significantly in the coming few years. (See FTTH Firms Eye Merger, ITU Telecom: Occam Boards Euro FTTx Train, and Fiber, Fiber Everywhere…)

— Ray Le Maistre, International News Editor, Light Reading