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@andyp
Falcon licensed the Eddy Merckx name in the 1970s, before Merckx started his own bike company, and used it on a range of cheap racing bikes for kids. They are made from cheap tubing and are worth buttons.
This frame, with mudguard eyelets and a mount for a light bracket, is definitely one of them and isn't worth more than £30 or so I'm afraid.