Blow for Virgin-Led Northern Rock Bid ; in Association with Business

Daily Post › December 15, 2007

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Summary

SIR Richard Branson's bid for Northern Rock has taken a blow after the crisis-hit lender placed a rival suitor on an equal footing, it was reported yesterday.

A Virgin-led team was the Newcastle-based firm's preferred bidder, but Olivant, an investment company led by former Abbey boss Luqman Arnold, has now been given access to the company's banks and management, according to several newspaper reports.

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Extract

Blow for Virgin-Led Northern Rock Bid ; in Association with Business

Olivant had threatened to pull out of ...

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