Marconi may be considering a divestiture of its Medical Systems business, according to an article in today's Wall Street Journal.
The article claims that the London-based telecommunications equipment manufacturer hopes to raise up to $2.15 billion from the sale of the unit. A Marconi spokesperson declined to comment on rumors of a sale.
As part of a restructuring announced last week, the telecommunications equipment manufacturer is moving its Cleveland-based Medical Systems business into Marconi Capital, a division that has included companies earmarked for disposal, according to the Wall Street Journal. Marconi is reorganizing itself into three divisions: Networks, Wireless, and Enterprise.
Siemens and Philips Electronics were named as possible buyers for Marconi Medical Systems in an article in Britain's Sunday Business newspaper. Philips CFO Jan Hommen told the newspaper that Philips might be interested in buying the U.S. medical operations, and that Philips had been contacted by Marconi's bankers. However, he stopped short of saying whether the companies were negotiating a sale. Siemens declined to comment to the newspaper.
By AuntMinnie.com staff writersApril 18, 2001
Copyright © 2001 AuntMinnie.com
