Marconi shareholders have given their support to a £1 billion deal that will see one of the best known names in UK industry sell most of its assets.
Swedish firm Ericsson will take on the Marconi trademark as well as its expertise in network equipment technology, leaving the remainder of the UK company as a services provider.
The plan was first made public in October, when it was revealed around 50 per cent of the company's staff at its Coventry site would be taken on by the Swedish giant.
The remainder would be retained in the business not acquired by Ericsson, in the Telent services operation.
A rolling redundancy programme involving around 450 people in Coventry had largely been completed.
The firm said then that around 2,000 people were employed at the site, although the union Amicus put it closer to 1,200. Around 30 private shareholders yesterday attended the extraordinary general meeting, with the vote going through as expected. ..SUPL: