Feeds

Marconi confirms bid talks

Huawei fingered

  • alert
  • submit to reddit

Combat fraud and increase customer satisfaction

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

3 Big data security analytics techniques

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
BOFH: Oh DO tell us what you think. *CLICK*
$%%&amp Oh dear, we've been cut *CLICK* Well hello *CLICK* You're breaking up...
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
AMD's 'Seattle' 64-bit ARM server chips now sampling, set to launch in late 2014
But they won't appear in SeaMicro Fabric Compute Systems anytime soon
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
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.
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.
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.