COMPANY MERGER

Hawera Star, Volume XLVII, 16 March 1928, Page 5

COMPANY MERGER

WIRELESS AND CABLES.

MARCONI SHARES ADVANCE. DEALINGS ON THE EXCHANGES. 1Y CABLE— PRESS ASSOCIATION —COPY HUGO'I LONDON. March 14. Members of the Imperial wireless aim cable conference confessed that they were pleasantly surprised at the announcement of the Mar coni-Eastern agrement, but declined to comment upon it in the absence of the terms of the proposed fusion, and also for reasons of secrecy officially imposed. It can, however, be assumer that the problem presented by the Marconi-Eastern combination will have to be most carefully considered by the conference representatives, as upon them rest the responsibility for framing recommendations to the respective Governments. It ts regarded as a hopeful augury that the companies were able to reach an agreement while the conference was sitting, because that is likely to assist in .the difficult task of reconciling the interests of all parties. The “Financial Times” says that, according to a city rumour, the amalgamating wireless and cable companies will pool their receipts. Marconis will take 60 per .cent, of the net revenue and the associated cables 40 per cent, between them. ' Another story is that the Marconi interest in the new holding company is equivalent to £4 per share. Marconi shares opened this morning at 61,s 3d. They mounted all day long, closing at 685." There were excited heavy dealings in the street after the exchange closed, when they reached 70s.