Feeds

Marconi clams up as finance talks enter new phase

Constructive discussions, apparently

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

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.

Internet Security Threat Report 2014

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.