Marconi employs about 9,000 workers worldwide
Telecoms equipment firm Marconi has agreed to sell the bulk of its assets and its name to Swedish firm Ericsson in a deal worth about £1.2bn ($2.1bn).
The deal will see Marconi's telecoms equipment business bought by Ericsson, leaving the UK firm with its services business, which will be renamed Telent.
Some 6,670 Marconi staff will move to Ericsson, but the Swedish firm warned that job cuts were "unavoidable".
It said 1,000 jobs were at risk at Marconi's sites in the UK and overseas.
source: news.bbc.co.uk/1/hi/business/4373934.stm
Telecoms equipment firm Marconi has agreed to sell the bulk of its assets and its name to Swedish firm Ericsson in a deal worth about £1.2bn ($2.1bn).
The deal will see Marconi's telecoms equipment business bought by Ericsson, leaving the UK firm with its services business, which will be renamed Telent.
Some 6,670 Marconi staff will move to Ericsson, but the Swedish firm warned that job cuts were "unavoidable".
It said 1,000 jobs were at risk at Marconi's sites in the UK and overseas.
source: news.bbc.co.uk/1/hi/business/4373934.stm
