Ericsson “could buy Marconi”

Ericsson is considering buying crisis-hit British telecoms company Marconi. A deal could be announced within a few weeks, reports Reuters, citing sources close to the negotiations.

According to business paper Financial Mail Ericsson has valued the company at £1.3 billion, or 17.6 billion kronor.

Marconi, which nearly folded during the telecoms market collapse of 2001 and which still suffers from financial problems, refused to comment on the reports.

TT/The Local