Virgin to sweeten Northern Rock deal: report
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LONDON/NEW DELHI  - Virgin Group will try to win over shareholders with a sweetened bid for Northern Rock on the eve of a speech by the British Chancellor to Parliament about the struggling UK bank, an unsourced Sunday Times report said.
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Carlyle Group, a District-based private-equity firm, is in the early stages of discussions to purchase Virgin Media, according to a source familiar with the talks.
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Troubled bank Northern Rock could be sold off following its emergency bail-out by the Bank of England, the Sunday Telegraph reported.
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Embattled British bank Northern Rock  is preparing for a sell-off that could see its 100 billion pound ($200 billion) mortgage portfolio divided between the country's other major banks, the Sunday Telegraph newspaper said.
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Virgin Group will try to win  over shareholders with a sweetened bid for Northern Rock on the  eve of a speech by the British Chancellor to Parliament about  the struggling UK bank, an unsourced Sunday Times report said.
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Business & money: Blow as Virgin Money finds it could have to wait months for authorisation to take depositors' cash
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Peers are expected to clash over Northern Rock amid claims its best assets have been 'hived off' to a private firm.
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Virgin Media, the British cable company whose largest investor is Richard Branson, said that it had received a takeover proposal.
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Richard Branson&#39;s Virgin group said today that it would be entering the market of online music, a move which will put Virgin against other music services such as Apple iTunes, MSN Music and many other pay-per-song music services.
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The Carlyle Group is in discussions with Virgin Media, the British cable company whose largest investor is Richard Branson, over a potential bid worth around $20 billion, a person familiar with the negotiations said yesterday.
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Britain set a two-week deadline for a private-sector rescue of Northern Rock  on Monday as it confirmed plans to convert its billions of pounds of loans to the stricken bank into bonds in a bid to smooth a deal.
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The chancellor is to announce plans to make way for a private sector buyout of Northern Rock.
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Goldman Sachs is close to completing a  15 billion pound ($29.5 billion) financing package to be used  by suitors for UK lender Northern Rock , the Sunday  Times reported, adding details may be unveiled this week.
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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, Prime Minister Gordon Brown said on Saturday.
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Richard Branson says he remains confident that a deal to rescue Northern Rock can be done.
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Entrepreneur Richard Branson's Virgin   Active is set to merge with the UK arm of Holmes Place to   create a 650 million pound ($1.24 billion) gym chain, The   Sunday Telegraph newspaper said, adding a deal could be   announced as early as Monday.
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The board of Northern Rock is  considering mounting a rescue plan to save the ailing British  bank from nationalisation or takeover, the Sunday Times  reported.