Marconi bondholders demand to have their say

NEWS Marconi bondholders have called in the lawyers to ensure they have a say in negotiations over the restructuring of the company's considerable debts. The group of bondholders, whose holdings represent around £376m, insist that any agreement reached without their consent would trigger default - leading to repayment under the original agreement, the Financial Times reports. The telecoms equipment manufacturer last week said it planned to renegotiate its banking facilities as part of its debt restructuring programme. The bondholders said they were concerned that any debt renegotiation performed without their input could guarantee more security to the banks and less to their assets.