howto redirect serial console

I have a ppc405 based board with one serial interface which I use as a
console.
I would like to redirect or suppress, at run time, the console in order to
use the
serial port to control external serial devices.

I have tried (busybox) setconsole program to redirect the console to
/dev/null
but it did not work. What would be the elegant way to redirect or suppress
the serial console.

M.  
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