Ericsson reportedly in talks to buy Marconi

Iria · Oct 9, 2005, 11:34 PM

Swedish telecoms equipment maker Ericsson is in talks to buy U.K. rival Marconi and a deal could be announced within weeks, people familiar with the negotiations said Sunday.

The Financial Mail newspaper said an unsourced report on Sunday that Ericsson saw a total valuation for Marconi of up to 1.3 billion pounds ($2.3 billion), roughly twice its current market value.

Marconi, which nearly collapsed in the 2001 telecoms industry meltdown, declined to comment.

In Stockholm, a spokeswoman for Ericsson said the group never commented on "rumors and speculation."
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Read More / Source: ZDNet

Oct 9, 2005, 11:34 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	Ericsson reportedly in talks to buy Marconi Swedish telecoms equipment maker Ericsson is in talks to buy U.K. rival Marconi and a deal could be announced within weeks, people familiar with the negotiations said Sunday. The Financial Mail newspaper said an unsourced report on Sunday that Ericsson saw a total valuation for Marconi of up to 1.3 billion pounds ($2.3 billion), roughly twice its current market value. Marconi, which nearly collapsed in the 2001 telecoms industry meltdown, declined to comment. In Stockholm, a spokeswoman for Ericsson said the group never commented on "rumors and speculation." __________ Read More / Source: ZDNet