Marconi Marconi’s makeover

Marconi has tarted itself up for a sale. The UK telecoms equipment group faces a grim future as a stand-alone business after last week’s news that it won no part in BT’s £10bn network upgrade. So, in a move choreographed as a come-on to potential buyers, it has updated the market on its trading and financial position. The update contains two key pieces of information. One is that its pensions scheme deficit has fallen. The other is that the value of its deferred tax assets – that is, historical ...