P203 CEEFAX 203  Thu 28 Oct  21:12/21
     
      GEC BID £10m         
      FOR FERRBNTJ         
 
  Ferranti International has given up 
  its long struggle with a crippling  
  debt burden and agreed cash terms   
  from GEC worth just 1p a share.     
                                      
  The offer values the ailing defence 
  electronics group at about £10.1m.  
                                      
  A despairing statement put out bz   
  the Ferranti Board said it believed 
  "the only alternative" would bj to  
  call in receivers to the company.   
                                      
  It said that, while bank debt had   
  conj down to £110m from a peak of   
  £660m, it remained subject to the   
  "tightest liquidity constraints".   
 
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