Saturday, Nov 24, 2007
Vultures bitten off more than they can chew?
Firstrung: Hedge fund vulture firms circle wagons and attempt to blackmail government over Northern Rock - Cable
Philip Richards, chief executive of hedge fund company RAB Capital, said it would be "totally inexcusable" to deliberately force the company into administration by rejecting potential offers from Sir Richard Branson's Virgin and Luqman Arnold's Olivant. Richards, who bought into Northern Rock only after it fell into crisis this summer, said that either of the bids could result in the Government eventually getting back its £25 billion loan and allow the rebuilding of the bank.
Posted by converted lurker @ 09:47 AM (233 views) Add Comment
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