Advisers to Share Pounds 50m in Fees from Marconi Rescue Deal
Jivkov, Michael, The Independent (London, England)
AS MARCONI yesterday remained locked in negotiations with lenders and bondholders over the company's future, it emerged that the major winners from the restructuring of the troubled telecoms equipment maker will most likely be the advisers to the various parties involved.
Financial sources close to the negotiations said the lawyers, business consultants, investment bankers and accountants on the deal will end up sharing pounds 50m in fees. This is around the same value as the stock market places on Marconi's entire equity capital.
The money will come out of Marconi coffers as part of an agreement which will see the group pay the fees not just of its advisers but …
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Publication information: Article title: Advisers to Share Pounds 50m in Fees from Marconi Rescue Deal. Contributors: Jivkov, Michael - Author. Newspaper title: The Independent (London, England). Publication date: August 24, 2002. Page number: 21. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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