Marconi seeks to calm nervous creditors

Meeting to head off fears...

Meeting to head off fears...

Telecoms equipment company Marconi is meeting its backers to convince them of its ability to pay off its £4.4bn debts. Following its profit warning in September, Marconi pledged to slash its overdraft by at least £2.7bn by the year's end. Analysts told the FT that Marconi's plans to sell off parts of its non-core assets would be hit by recent events in the US. They said that market uncertainty, reinforced by terrorist attacks, were seriously delaying merger and acquisition activity.