Member Article

Virgin to bid for Northern Rock

Sir Richard Branson has confirmed his Virgin Group will make a formal bid for Northern Rock on Monday. That is the deadline for interested parties to submit their offers for the troubled mortgage lender.

Speaking in Moscow, Sir Richard said: “We believe we will create a very strong bank in the future and hope to make sure the taxpayers get their money back.”

Virgin’s plans would see Northern Rock added to its financial services operation Virgin Money and rebranded.Â

This was posted in Bdaily's Members' News section by Ruth Mitchell .