BusinessCompany NewsMarconi dismisses Mayo revelations

Marconi dismisses Mayo revelations

Marconi, the troubled technology group, has dismissed revelations made by its former financial director and deputy chief executive as only referring to events in the past.

John Mayo, the Marconi FD ousted last July, broke his silence this week on the events leading up to the surprise profits warning and subsequent collapse in share price.

But Marconi told Accountancy Age Mayo’s views were only about events in the past.

A spokesman said: ‘This is not terribly important now ? we are looking to the future and not the past.’

According to Mayo’s account, serialised in the Financial Times, the Marconi board threw out his plan to seek a merger that would have valued the company at £25bn in February 2000.

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