Summary
Midland telecoms group Marconi yesterday confirmed that it was in talks about possible business tie-ups - but stopped short of confirming takeover interest from Chinese firm Huawei.
The UK group - formed out of industrial conglomerate GEC - said it was in the early stages of discussions about 'potential business combinations', adding there was no certainty that a takeover would follow. The brief statement comes the day after it was reported that Huawei was involved in exploratory talks over a possible pounds 600 million takeover of Marconi, which is cutting some 450 jobs at its base in Coventry.See the full content of this document
Extract
Marconi Confirms Talks
Huawei itself has so far refused to comment on the reports.
But analysts said that the acquisition of Marconi would boost Huawei's European presence by...See the full content of this document
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