Underwater Marconi options get kiss of life

NEWS Marconi has rejigged its controversial share option scheme. The troubled telco equipment maker raised the ire of investors by trying to reprice options for senior executives in the summer. Falling share prices meant options were more expensive than buying shares on the open market - they were 'underwater'. The company had to cancel the plan after protest from investors. The new scheme will offer options to 600 staff. Options are priced at £6.70, down from £9.47 in June, according to the Financial Times. The options are conditional on Marconi cutting its debt to £2.7bn to £3.2bn by March.