Virgin Must Up Rock Offer to Prevent Nationalisation ; Banking
Birmingham Post › February 14, 2008
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Summary
Virgin, front runner in the bid to take over crisis-hit Northern Rock, has been warned it must improve its offer or else the troubled bank could be nationalised.
The Government is likely to step in only as a last resort because of the burden it would place on the taxpayer, however, unless better rescue deals come forward then it could be forced to intervene.See the full content of this document
Extract
Virgin Must Up Rock Offer to Prevent Nationalisation ; Banking
The only other bidder to Sir Richard Branson's consortium is a managementled proposal, however, both packages are said to fall belo...
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