Virgin Group is reported to be in talks to form a consortium with Northern Rock.
The company is said to be discussing with a group of Middle East and US investors about forming a consortium which would inject funds into the bank in return for a controlling stake, according to the national press. The company could make a statement today about its intentions.If the talks are successful, Virgin will take over the day to day running of the business and incorporate it under its Virgin Money brand which offers mortgages, credit cards and insurance services.
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