Marconi set to ditch financial advisers

NEWS Ailing telecoms firm Marconi is looking to replace its current financial advisers, Credit Suisse First Boston and UBS Warburg. The company has endured a long period of decline in which it saw its share price fall to almost nothing. Last week Marconi shares slumped to 17p, considerably down on its 52 week high of £12.50. Credit Suisse First Boston and UBS Warburg advised Marconi on the purchases of Fore Systems ($4.5bn) and Reltec ($2.1bn) in 1999, since when the company's share price has fallen almost 99 per cent.