Belfast Telegraph

Government cashing in on Rock's sale to Virgin Money

The Government will make a further £538m from the sale of failed lender Northern Rock to Richard Branson's Virgin Money, according to the body set up to manage the government's stakes in bailed-out banks.

UK Financial Investments (UKFI) said that Britain's finance ministry had received a further £73m cash from the sale, in addition to the £747m that it received on completion of the deal with Virgin Money.