Marconi adds 'worst ever purchase' to 'worst ever results'

NEWS Marconi has written off £3.1bn in goodwill relating to the acquisition of US firm Fore Systems. The write-down marks the 1999 Fore acquisition out as one of the worst ever overseas purchases by a UK firm and makes up the bulk of a £3.5bn goodwill write-down which helped push Marconi's first half losses to £5.1bn - another record for the UK.