Sunday, January 20, 2008
Branson & Brown to create Northern Wok
Virgin to sweeten Northern Rock deal
Virgin Group will try to win over shareholders with a sweetened bid for Northern Rock on the eve of a speech by the British Chancellor to Parliament about the struggling UK bank, an unsourced Sunday Times report said. A statement from the Treasury about Northern Rock is expected at 0700 GMT on Monday, a Treasury spokesman said.
Posted by jack c @ 05:17 PM (716 views)
5 thoughts on “Branson & Brown to create Northern Wok”
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paul says:
Personally I would be glad to see The Crock go to Virgin. Firstly they might actually pay back some money to the taxpayer and secondly, they will dump the current shareholders (legitimately) for the muppets they really have been.
bystander says:
Here, here Paul. I couldn’t have put it better myself. Virgin Rock sounds good doesn’t it?
robh says:
Would the sponsored football strip have to have the name in a circular arrangement with a pink circle round it?
paul says:
Seriously, as a last word on this, if the government nationalises The Crock, the legal bills will stretch into the hundreds of millions for years to come.
I have this on good authority from some top people in the retail banking business. The government would not see the end of litigation for literally decades, all at the taxpayers’ expense.
Let Virgin strip it of value and crap it out. That’ll teach the shareholders to preserve irrational faith in dodgy domestic property lenders.
hpwatcher says:
I would like to see northern rock collapse, followed by a run on another uk bank.