LONDON—U.K. vendor Marconi plc said it will not unveil a new business strategy because of its talks with banks and bondholders have entered a new phase.
“Tripartite discussions are now under way and have been constructive in nature,” said the company, which has pruned staff and budget drastically the past year.
Marconi plans to refinance $3.2 billion in syndicated loans, and hopes to secure a new loan with lower interest rate.
