Feeds

Marconi clams up as finance talks enter new phase

Constructive discussions, apparently

  • alert
  • submit to reddit

3 Big data security analytics techniques

ComputerWire: IT Industry Intelligence

Marconi Plc has abruptly called off a meeting to reveal details of its five-year business plan with the excuse that talks on a refinancing deal with bank and bondholder creditors have "entered a new phase."

Leaks from the company earlier this week suggested that a conclusion of talks with bankers could be more than a month away, although the company originally hoped to announce an agreement to coincide with today's publication of its full-year figures.

Marconi said tripartite discussions with bankers and bondholders are underway and have been constructive in nature. "In the circumstances it has been agreed between the three parties that it would be helpful if no new information material to these discussions is published at this time," it said.

The struggling London, UK-based telecoms equipment manufacturer has had a hard time convincing bankers it has a future, and in March it pulled out of talks with its bankers on a new financing deal because it feared that it couldn't meet the interest charges.

© Computerwire.com. All rights reserved.

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.