Northern Rock sold to Virgin Money 'at a loss' - Telegraph
UK Financial Investments said it has agreed to sell 100pc of Northern Rock to Virgin Money for £747m in cash immediately, but this could potentially rise to around £1bn.
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The Newcastle-based lender received a £1.4bn bail-out when it was nationalised in February 2008 at the height of the credit crunch. So on paper, taxpayers end up with a loss of £400m, but this could rise to £650m.
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Another well matured financial turd left behind by the one eyed Scottish moron floats to the surface...
New Labour = New s
UK Financial Investments said it has agreed to sell 100pc of Northern Rock to Virgin Money for £747m in cash immediately, but this could potentially rise to around £1bn.
...
The Newcastle-based lender received a £1.4bn bail-out when it was nationalised in February 2008 at the height of the credit crunch. So on paper, taxpayers end up with a loss of £400m, but this could rise to £650m.
Love this comment.
Another well matured financial turd left behind by the one eyed Scottish moron floats to the surface...
New Labour = New s
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