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In the News - Northern Rock

Northern Rock to be nationalised

The long-running Northern Rock saga (reported most recently in 'In the News' on 21 January 2008) appears to be coming to a head today as the Government announced plans yesterday to nationalise it. The Chancellor will today put a package of emergency legislation before Parliament with a view to putting it in public hands as quickly as possible. The move is widely being seen as a failure on the part of the Government and comes after talks with its preferred buyer, Virgin Money, collapsed.

Northern Rock's shares were suspended today.

(Sources: Guardian Unlimited Times Online Independent Online)

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18-Feb-2008 12:25:08

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