Ericsson eyeing Marconi?

10 Oct 2005

Swedish telecoms vendor Ericsson is rumoured to be in talks to acquire its smaller UK rival Marconi, according to a number of industry reports. The speculation follows reports in August that Chinese equipment manufacturer Huawei was holding discussions Marconi concerning a GBP560 million takeover. Marconi has effectively been up for sale since April, when it failed to land a crucial GBP10 billion contract with its biggest customer BT. CEO Mike Parton has been reviewing his company’s options, amid concerns that it is too small to compete with the industry heavyweights.

United Kingdom