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11/09/2001
New hope for Marconi as shares rise
Shares in UK telecoms equipment maker Marconi have risen by 14 per cent amidst renewed hopes that the company may survive its current debt of £4.5 billion.
The hopes were raised on Monday after several banks agreed to extend their credit lines to the firm. However, ahead of Monday's 4p rise in its share price, market speculators had forced the price down to 29.5p, betting on its collapse.
Marconi's share price has plummeted from a high of £12.50 a year ago to just 33.5p on Monday.
The company’s debts have also continued to burden the company and some analysts continue to have doubts over their ability to repay them.
These continuing problems were worsened when the company announced 10,000 job cuts earlier this year.
Marconi also caused a stir recently with a £1 million pay-off to recently departed chief executive, Lord Simpson. (MB)
The hopes were raised on Monday after several banks agreed to extend their credit lines to the firm. However, ahead of Monday's 4p rise in its share price, market speculators had forced the price down to 29.5p, betting on its collapse.
Marconi's share price has plummeted from a high of £12.50 a year ago to just 33.5p on Monday.
The company’s debts have also continued to burden the company and some analysts continue to have doubts over their ability to repay them.
These continuing problems were worsened when the company announced 10,000 job cuts earlier this year.
Marconi also caused a stir recently with a £1 million pay-off to recently departed chief executive, Lord Simpson. (MB)
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27 September 2001
Marconi shares hit all-time low as company rated “worthless”
Shares in beleaguered telecoms equipment manufacturer Marconi, have fallen to an all-time low after City analysts rated the company’s value as ‘worthless’. Investors in the company have seen Marconi’s share price tumble to 18p, from a sometime high of £12.
Marconi shares hit all-time low as company rated “worthless”
Shares in beleaguered telecoms equipment manufacturer Marconi, have fallen to an all-time low after City analysts rated the company’s value as ‘worthless’. Investors in the company have seen Marconi’s share price tumble to 18p, from a sometime high of £12.
06 September 2001
Shares in mired Marconi tumble
Shares in crisis-hit telecoms equipment maker Marconi, have slumped 28 per cent to close at just 38 pence, wiping £400m off the firm's share value in one day. The FTSE 100 company has now lost 95 per cent of its value since the end of last year.
Shares in mired Marconi tumble
Shares in crisis-hit telecoms equipment maker Marconi, have slumped 28 per cent to close at just 38 pence, wiping £400m off the firm's share value in one day. The FTSE 100 company has now lost 95 per cent of its value since the end of last year.
15 October 2001
Marconi reassures investors about debt burden
Marconi has sought to reassure investors that the company is on course to decrease its £4.3 billion debt burden. Commenting on the latest trading figures Chief Executive of Marconi Mike Parton said: "Whilst trading conditions continue to be tough, Group operating profit and cash flow in the second quarter were in line with our previous guidance.
Marconi reassures investors about debt burden
Marconi has sought to reassure investors that the company is on course to decrease its £4.3 billion debt burden. Commenting on the latest trading figures Chief Executive of Marconi Mike Parton said: "Whilst trading conditions continue to be tough, Group operating profit and cash flow in the second quarter were in line with our previous guidance.
15 August 2001
Marconi face FTSE-100 relegation
Telecoms company Marconi were in further trouble on Tuesday as the company’s share price fell by 12 per cent. As a result of the sliding stock many investors believe the company could be relegated from the FTSE-100 index.
Marconi face FTSE-100 relegation
Telecoms company Marconi were in further trouble on Tuesday as the company’s share price fell by 12 per cent. As a result of the sliding stock many investors believe the company could be relegated from the FTSE-100 index.
06 May 2005
800 jobs to go at Marconi
Telecoms equipment manufacturer Marconi has announced that 800 jobs are to go in the UK. 450 jobs are expected to go at the firm’s site in Coventry and another 350 are expected to be lost in Liverpool. Marconi currently employs around 4,300 in the UK. The announcement comes after the company’s failure to secure a new contract with BT.
800 jobs to go at Marconi
Telecoms equipment manufacturer Marconi has announced that 800 jobs are to go in the UK. 450 jobs are expected to go at the firm’s site in Coventry and another 350 are expected to be lost in Liverpool. Marconi currently employs around 4,300 in the UK. The announcement comes after the company’s failure to secure a new contract with BT.
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