Sunday, February 17, 2008

Northern Rock "to be nationalised"

Northern Rock, which has been in trouble after a run on the bank in September, is to be nationalised according to Sky News sources. Several bids had been put forward including one from Richard Branson's Virgin group, but these proposals seem to have fallen short of government expectations. The Chancellor, Alistair Darling, is expected to make an announcement at 16:00 GMT today [Sky News]

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