British telecoms equipment maker Marconi confirmed today it was in early-stage talks that could lead to a takeover offer.
The announcement boosted its shares by more than 15 per cent, recovering some of the ground lost earlier this year. In April, the firm's shares halved after BT failed to include the company in a £10 billion upgrade plan.
However, it refused to reveal the identity of the potential bidder, despite press reports that Chinese partner Huawei Technologies was involved. Huawei already has a deal in place with Marconi to distribute each other's products.
In a statement, Marconi claimed that preliminary discussions were taking place but said there was no assurance that an offer would take place.
"Marconi is continuing to pursue all strategic options with the objective of maximising shareholder value," it said.
"These options include, amongst a range of alternatives, discussions with third parties about potential business combinations."
