BAe readies Marconi deal

BAe readies Marconi deal
Alex Mayhew-Smith British Aerospace (BAe) will sign a definitive agreement on its ?7bn acquisition of GEC’s Marconi defence arm in the next month, according to BAe’s finance director George Rose at the firm’s recent results report. The deal will then face regulatory approval. BAe’s overall pre-tax profit in 1998 was ?973m, up from ?233m last year and was fuelled by a ?368m gain from the sale of its stake in mobile phone operator Orange.


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