Telecoms equipment company Marconi has been forced to rip up a re-financing deal with its banks because it no longer believes that the re-financing proposals give it an appropriate capital structure.
Marconi has spent the last six months trying to restructure its 3 billion debt and with sales continuing to fall and not expected to bounce back until March 2003, the company’s future could, once again, be in doubt.
26-Mar-2002
