Summary
THE saga of Telent, the remnant of the former Marconi telecoms empire, is a tale for our times. It is a tangled one, but bear with me, because it highlights some important issues about the workings of hedge funds and about the vulnerability of company pensions.
A brief history is in order. Marconi came close to collapse after an illjudged attempt to become a major telecoms player. It was rescued by Mike Parton, who sold the best bits of the business to Ericsson last year.See the full content of this document
Extract
Storming Pensions Fortress ; Comment
He now runs Telent, which was saddled with the pension fund. The scheme is one of Britain's biggest with 64,000 members including Parton himself and assets of around Pounds 3bn, dwarfing Telent'...
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