Editing General Electric Company (section)

===Marconi Corporation plc and break-up (2002–05)===
On 19 May 2003, Marconi plc underwent a restructuring and became [[Marconi Communications|Marconi Corporation plc]], advised by [[Lazard]] and [[Morgan Stanley]].<ref name="GPT-H-05"/><ref name="GPT-H-06"/> Marconi shareholders received one Marconi Corporation share for every 559 Marconi shares. In a [[Debt restructuring#Debt-for-equity swap|debt-for-equity swap]], the firm's creditors received 99.5% of the new company's shares.<ref name="GPT-H-05"/><ref>{{cite web |url = https://www.ft.com/content/7d1e3a3e-2b54-11d9-92d4-00000e2511c8 |title = Desperate days, drastic measures |publisher = Financial Times |first = John |last = Gapper |date= 31 October 2004}}</ref><ref>{{cite web |url = https://www.accountancyage.com/2002/08/19/shareholders-lose-out-in-marconi-liquidation/ |title = Shareholders lose out in Marconi liquidation |publisher = accountancyage.com |date = 19 August 2002}}</ref> In October 2003, the company announced that it intended to pursue listing on the [[Nasdaq]].<ref>{{cite web |url = https://www.thefreelibrary.com/Marconi+to+List+on+Nasdaq-a0108454066 |title = Marconi to List on Nasdaq |publisher = thefreelibrary.com |date = 3 October 2003}}</ref>

In 2005, the company failed to secure any part of [[BT Group|BT's]] [[BT 21CN|21st Century Network]] (21CN) programme, surprising commentators and sending the company's shares tumbling.<ref>{{cite web |url = https://www.theregister.com/2005/04/28/marconi_21cn/ |title = Marconi savaged after failure to win BT 21CN deal, Share price falls 40 per cent |publisher = The Register |first = Tim |last = Richardson |date = 28 April 2005 }}</ref><ref>{{cite web |url = https://techmonitor.ai/technology/bt_names_suppliers_for_ip_network_marconis_out_huaweis_in |title = BT names suppliers for IP network: Marconi's out, Huawei's in |publisher = techmonitor.ai |date = 28 April 2005}}</ref><ref>{{cite web |url = https://www.investorschronicle.co.uk/2012/02/28/shares/news-and-analysis/marconi-future-in-doubt-after-bt-snub-WryEyvqA4QslnDeiYhap0I/article.html |title = Marconi future in doubt after BT snub |publisher = investorschronicle.co.uk |date = 5 May 2005}}</ref> Before the announcement, the investment bank [[Dresdner Kleinwort]] had said, "[Marconi is] so advanced with its products and so entrenched with BT Group plc that its selection looks certain."<ref>{{cite web |last=Le Maistre |first=Ray |title=Analyst: Marconi in Line for 21CN |website=Light Reading |date=27 April 2005 |url=http://www.lightreading.com/document.asp?doc_id=72867 |access-date=28 November 2006 |archive-date=25 September 2012 |archive-url=https://web.archive.org/web/20120925045101/http://www.lightreading.com/document.asp?doc_id=72867 |url-status=dead }}</ref> Various bids were received for the business, including one from [[Huawei|Huawei Technologies]], with whom Marconi already had a joint venture.<ref>{{cite web |url=http://news.bbc.co.uk/1/hi/business/4129612.stm |title=Marconi discussing £600m buy-out |website=BBC News |date=7 August 2005 |access-date=5 June 2010}}</ref>

Prior to the collapse of the Marconi group in 2005 and 2006, the company was a major supplier of [[Asynchronous Transfer Mode]], [[Gigabit Ethernet]], and [[Internet Protocol]] products. The majority of Marconi Corporation's businesses (including [[Marconi Communications]] and the rights to the Marconi name) were sold to [[Ericsson]] in 2005,<ref name="GPT-H-02"/><ref>{{cite web |url = https://techmonitor.ai/technology/ericsson_said_to_be_bidding_for_marconi |title = Ericsson said to be bidding for Marconi |publisher = techmonitor.ai |date = 10 October 2005}}</ref> and the remainder was renamed [[Telent]] plc.

On 27 October 2006, the company folded voluntarily.<ref name="GPT-H-07"/>