Who would buy Northern Rock?
July 8, 2009 by Brendan
News
In yesterday’s article, we discussed how Northern Rock is finally allowing its existing customers to take out new mortgages with the nationalised bank and speculated whether Northern Rock could be put up for sale.
Northern Rock was the first bank to show signs of trouble and possibly gave the first big signal of the start of the credit crunch. It needed a cash injection of around £27 billion and was nationalised in February last year.
An interesting question is, if Northern Rock were to be put up for sale, who would make possible suitors?
Virgin did try to purchase the bank when it first experienced trouble so is it possible Virgin might buy Northern Rock?
Whoever might buy it, chances are that the government may try to sell Northern Rock before a general election and maybe as early as in just a few months time.
It is possible this could be seen as a sign of the beginning of the end of the credit crunch and good news for those taking CeMAP training.
Written by
Brendan
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