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Cisco eyes up Marconi
£12bn buyout deal on the cards?
Cisco Systems is considering making a £12 billion offer for British telecoms equipment maker Marconi.
According to a report in yesterday's Sunday Business, the US networking giant is eyeing up Marconi to improve its sales in Europe.
But Cisco CEO John Chambers has told advisors not to make an approach until Marconi has finished its restructure, unnamed US sources told the newspaper.
Marconi last month warned it would cut 3,000 staff and shift its business into three divisions after posting a loss for the second half of its financial year. ®