Investors back Northern Rock in-house rescue plan
A group of investors including US private equity firm Five Mile has indicated it will back an “in-house” rescue plan for stricken British bank Northern Rock, the Financial Times said on its website on Fri-day.
By Agencies |
LONDON: A group of investors including US private equity firm Five Mile has indicated it will back an “in-house” rescue plan for stricken British bank Northern Rock, the Financial Times said on its website on Fri-day.
The newspaper, on its website, said the Tyne consortium had signalled it was willing to underwrite £200 million of a rights issue being proposed by Northern Rock’s new management team, led by Paul Thompson.
The newspaper, on its website, said the Tyne consortium had signalled it was willing to underwrite £200 million of a rights issue being proposed by Northern Rock’s new management team, led by Paul Thompson.
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