Feeds

Marconi confirms bid talks

Huawei fingered

  • alert
  • submit to reddit

Mobile application security vulnerability report

Marconi has confirmed it is holding talks with rivals over the possible sale of the telecoms equipment maker.

Shares in the UK firm raced ahead this morning up 44.75p (17 per cent) at 311.75p.

In a statement issued to the London Stock Exchange Marconi said: "Marconi Corporation plc is continuing to pursue all strategic options with the objective of maximising shareholder value.

"These options include, amongst a range of alternatives, discussions with third parties about potential business combinations.

"The discussions are at a preliminary stage and there can be no assurance that an offer will ultimately take place."

The statement was issued in response to a report in The Sunday Times which said Marconi had begun talks with Chinese telecoms equipment maker Huawei Technologies in a deal valuing the company at more than £600m.

Last week Marconi announced increased losses as it looks to cover restructuring costs after failing to secure a slice of a major £10bn contract to supply gear for BT's next-generation 21st Century Network (21CN) project.

Huawei, incidentally, was one of eight foreign firms selected as suppliers by BT. ®

Rlated stories

Marconi revs flat
MPs accuse BT of 'exploiting low wages in China'
DTI reaches out to struggling Marconi
Marconi culls 800 jobs
Unions hold powwow with Marconi over job fears
Marconi mulls bleak future following BT bombshell
Job fears haunt Marconi
Marconi savaged after failure to win BT 21CN deal

Bridging the IT gap between rising business demands and ageing tools

More from The Register

next story
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
FLAPE – the next BIG THING in storage
Find cold data with flash, transmit it from tape
Seagate chances ARM with NAS boxes for the SOHO crowd
There's an Atom-powered offering, too
Gartner: To the right, to the right – biz sync firms who've won in a box to the right...
Magic quadrant: Top marks for, er, completeness of vision, EMC
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.