Marconi shareholders left to rue latest blow

NEWS Marconi shareholders this morning saw even more value wiped from their investment after the company announced it is to go ahead with a debt-for-equity swap with creditors. The move will cut the shareholders' stake in the company but will contribute to its restructuring of debt valued at £4.3bn. The company's share price has plummeted over the last couple of years and this morning's announcement from the company only added to its woes. During early morning trading the company lost 20 per cent but managed to make slight gains to sit 17 per cent down at 4.70p by 10:40(BST).