In the News - Northern Rock
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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)
Posted by Plebble Admin at 12:25 on 18-Feb-2008
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