Anorak Forums: Virgin Sells Northern Rock Short
AGW writes in the Anorak Forums: “Virgin Group and its consortium has been named as preferred bidder in the rescue of Northern Rock.”
And:
Inside track reports suggest the group is plotting to issue new shares at a price as low as 20p – Northern Rock closed at 86p on Friday.
The Virgin plan would offer shareholders some hope of getting something.
Roger Lawson, of the UK Shareholders Association, said it welcomed the move. “We believe that it is important that shareholders have a say in the outcome of what happens to their company, and the assets of the business.”The question has to be asked: “Why?”
These are the same shareholders who allowed the immediate past resigning executives to let Northern Rock go on its extraordinary journey.
Posted: 26th, November 2007 | In: Reviews Comments (2) | TrackBack | Permalink
