Marconi asked to give back £1bn

NEWS Marconi's woes are continuing this week following a demand from its lenders to give them back around £1bn - or risk bankruptcy. The group of lenders, led by Barclays and HSBC, are insisting that the beleaguered telecoms equipment maker hands over the bulk of its cash reserves, which are estimated to be around £1bn, according to The Observer. Marconi's net borrowings stand at approximately £3bn, with half of that figure owed to bondholders and the remainder to the high street lenders. For related news, see:
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