Railtrack / Marconi, Railtrack and Marconi prepare for battle

Manufacturing News, Source : TheManufacturer.com
Published : 15 Apr 2002 15:30
Free whitepapers: Achieve Lean Success | Supply Chain Solutions

Beleaguered rail operator Railtrack and troubled telecoms firm Marconi are poised to open legal hostilities.

Railtrack, which has been in administration since October, is to sue Marconi for £20m, according to reports on Sunday. Railtrack claims it is owed the cash from selling shares in Easynet, the Marconi-controlled internet service provider.

On Monday, Marconi revealed it was not only poised to defend the case, but file a counter suit against Railtrack "over a separate issue". Marconi, a telecoms equipment maker which saw its shares plummet from more than £12 to less than 6p within two years, has declined to give any further details of its suit.

Observers have speculated that Marconi's grievance involves Ultramast, a joint venture created in December 2000 with Railtrack and British Waterways to build third generation mobile phone masts on railway and canal land. Ultramast's slow progress is said to have frustrated founders.

 

Comments on this story

click here to add a comment