Fund managers are steering clear of the stock, believing it has little chance of recovery
With its share price at around 6p-7p and the total company valuation down to $194m from a $48.7bn high in 2000, Marconi is engulfed in debt and bearing the burden of low interest rates. Many fund managers do not even view the stock as a turnaround opportunity and are steering clear of it entirely. Peter Cockburn, UK investment manager at Edinburgh Fund Managers, said: 'Marconi is a huge company but with its debt and plunging share price, it might go into liquidation. We do not think the company has any value so do not hold any of its shares. It is very reliant on banks and has been rene...
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