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Marconi seeks to calm nervous creditors
Meeting to head off fears...
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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.