Barclays Infrastructure Insights: Bi-Weekly Build: Early May news flow round-up

研报英文原文证据摘录

Barclays Infrastructure Insights: Bi-Weekly Build: Early May news flow round-up

Equity Research

15 May 2026

Barclays Infrastructure Insights

Bi-Weekly Build: Early May news

flow round-up

Utilities: E.ON/Centrica drove stock stories, with M&A and AI

European Transportation

data-centre themes adding optionality. Telecoms: Inwit, SFR Emilie Fung

M&A and satellite spectrum/pricing dominate. Concessions: +44 (0)20 3555 2335 emilie.fung@barclays.com

Q1 status quo, Getlink momentum and Eiffage value. Airports: Barclays, UK

April traffic resilient, but fuel pressure remains key. Andrew Lobbenberg

+44 (0)20 3555 0639

andrew.lobbenberg@barclays.com

Barclays, UK

Major News Flow – Sector Key Highlights: European Utilities & Clean Energy

Dominic Nash, PhD

• Utilities: With a light newsflow set beyond earnings, E.ON’s OVO acquisition and +44 (0)20 3134 2364

Centrica’s trading statement/850MW CCGT acquisition drove the stock-specific dominic.nash@barclays.com

narrative, while our AI data-centre cooling and water-use thematic added a Barclays, UK

broader infrastructure angle around power, equipment and water-resource trade-

Peter Crampton

offs. +44 (0)20 3555 0125

peter.crampton2@barclays.com

• Telecoms: Telecoms remained dominated by Inwit/TIM contract litigation, the SFR Barclays, UK

consolidation timetable, and satellite spectrum/pricing developments, including

FCC spectrum approvals, D2D competition, Starlink IFC momentum and UK European Telecom Services

regional pricing divergence. Maurice Patrick

+44 (0)20 3134 3622

• Construction & Concessions: Q1 earnings left relative preferences broadly maurice.patrick@barclays.com

unchanged: Eiffage remains preferred on value/highest upside, while Getlink is Barclays, UK