Marconi says talk of Ericsson bid just a 'rumor'
Telecom equipment maker Marconi refused to confirm whether it was in talks to be acquired by Ericsson, as bid speculation naming the larger Swedish rival sent the UK firm's shares to a five-month high on Monday.
"We do not comment on rumors and this is just another rumor," spokesman David Beck said, adding that Marconi had no plans to issue a statement on Monday.
People familiar with the negotiations told Reuters on Sunday that Ericsson was in talks to buy the UK firm and a deal could be announced within weeks.
Britain's Financial Mail newspaper said in an unsourced report the same day that Ericsson saw a total valuation of up to 1.3 billion pounds for Marconi.
posted by Fergie @ 10/10/2005 07:03:00 AM
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