In the first deal of its kind, a major pension scheme has been spun off from its parent company to make the business more attractive to investors.
A 75% majority of the telecom equipment maker firm Marconi has been sold to telecommunications giant Ericsson for £1.2bn. But the £2.5bn pension scheme has been 'ring fenced' and set up as a separate entity on the stock market, rebranded as Telent.
