Prysmian CEO Valerio Battista spoke to reporters on the sidelines of a conference in Milan.

The world's biggest cable maker revised down its guidance for 2018 profit on Friday after announcing 50 million euros in provisions due to technical issues at WesternLink. The group had already set aside 30 million euros on the WesternLink contract.

Battista also said on Wednesday a consortium for Prysmian upcoming rights issue had been formed, but did not specify if it would take place in the third quarter.

(Reporting by Elisa Anzolin; writing by Francesca Landini)