Schroder Salomon Smith Barney has made €500,000 ($460,000) from a block trade on behalf of Marconi, the troubled UK telecoms equipment supplier, after winning the bid for the deal on Tuesday evening.

SSSB sold approximately two million shares in Lagardere, the French media group, at €33.75, raising €69.3m. Marconi said it sold all of its Lagardere shares, a 1.49% stake, to SSSB for net proceeds of €68.8m.