Dec 04 2007

Is Virgin going to be the Saviour for Northern Rock?

Posted by: admin in News & General Information, Virgin Money

Virgin has been in the news for the last week or so regarding a proposed takeover of Northern Rock.

If successful they would incorporate the Newcastle-based building society/bank in their own existing Virgin Money brand.

The Virgin-led consortium "bid includes an immediate repayment of £11bn of the £25bn the bank owes the Bank of England, with the rest to be repaid within three years. (BBC NEWS)"

Monster money!!!  It looks like that the expanding Virgin brand is getting bigger.

If it's successful that is, it seems that a major shareholder of Northern Rock is opposing the Virgin Bid

Read the full articles on the BBC's website for the full story

BBC News - Article 1 - 25/11/2007

BBC News - Article 2 - 26/11/2007

This entry was posted on Tuesday, December 4th, 2007 at 9:27 pm and is filed under News & General Information, Virgin Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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