The company has recently emerged from a massive GBP4 billion restructuring drive, shedding thousands of jobs and selling off units.

Marconi reported its first quarterly sales growth in 18 months in October, but said it saw no early respite from the downturn that nearly led to its collapse.

The group reported revenues in the three months to September were up 6% to GBP389 million ($649.6 million) on the previous three months.

The company surprised shareholders in July 2001 when it said operating profits would halve due to an industry-wide downturn.

It was forced to take drastic action after it borrowed heavily to fund an acquisition drive just as the telecoms boom was coming to an end.

The share price went into meltdown and in May the famous old company had to enter a GBP4 billion restructuring deal that handed 99.5% of the company’s equity to its creditors.