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Marconi sells off some of Easynet stake

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Jul 04, 2003

Marconi has offloaded about half of its stake in ISP group Easynet, which recently forecast that it would reach operating profitability by the end of the year. The disposal is to be conducted via an institutional placing, with some 36m shares to be transferred at a price of between 110p and 115p. This will raise about £40m for Marconi, which will be left with a 40% stake in Easynet, reduced from 73%. Easynet shares dropped 5% on the news.

"www.uk.easynet.net ":http://www.uk.easynet.net

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