Marconi set for Nasdaq return

2 Oct 2003

UK equipment manufacturer Marconi is expected to re-list on the Nasdaq next week after completing a GBP4 billion restructuring process lasting almost fifteen months. Marconi was de-listed in July 2002 after its share price dropped below the USD1 required for Nasdaq membership. Its re-listing was a condition of the reorganisation process during which control of Marconi passed to new US shareholders Fidelity, Appaloosa Investment and Cerberus. Marconi relaunched on the London stock exchange in May 2003; its shares are currently trading at around the GBP4.2 mark.

United Kingdom