Saturday, January 19, 2008

Britain backs bond plan to aid N.Rock rescue: source (Reuters)



The clock outside the Newcastle city centre branch of the Northern Rock bank is pictured in Newcastle, northern England, January 15, 2008. Britain has received a report from U.S. investment bank Goldman Sachs on options for the troubled Northern Rock bank and is talking to potential buyers about them, British Prime Minister Gordon Brown said on Saturday. (Nigel Roddis/Reuters)Reuters - Britain will back a plan to
convert its lending to Northern Rock into bonds, a
source familiar with the matter said, potentially tying itself
to the bank for years but avoiding full-scale nationalization.




Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)