The government official concerned with the issue said that the rescue packages or “offers” made by Virgin group and Northern Rock management group were considerable but not sufficient for delivering the value for the money. “Our financial adviser Goldman Sachs has concluded from a financial point of view that a temporary period of public ownership better meets our objective of protecting taxpayers,” a statement from the officials claimed. Hence the offer of Buying Northern Rock still remains open. Right now, it is Virgin Group which has emerged as the winning bidder.
| Northern Rock has got a new boss – someone who is known as a “Corporate Troubleshooter”. Cambridge-educated Ron Sandler started his career as a management consultant. He joined Lloyd's of London in 1995, becoming chief executive a few months later. | Table of Contents |
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