Belfast Telegraph

Wednesday 1 October 2014

Battle for control Northern Rock set to escalate

The battle for crisis-hit bank Northern Rock looks set to intensify this week

as a number of suitors re-table bids to rival the one put forward by Virgin.

Northern Rock could be at the centre of a four-way tussle with private equity

firm Olivant expected to enter the fray, while private equity groups JC Flowers

and Cerebus are set to put forward revised proposals, according to Sunday

newspapers.

The move comes just days after the bank named the Virgin Consortium as it's

preferred bidder.

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