Britain unveils private buyout plan for Northern Rock
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The British government on Monday unveiled plans to keep Northern Rock, the bank severely damaged by the squeeze on global credit, in the private sector.
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The government has plans in place to use legislation if the Northern Rock bank is nationalised, the BBC learns.
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The Bank of England agrees to give emergency financial support to mortgage lenders Northern Rock.
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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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Emergency legislation is to be introduced to temporarily nationalise the stricken Northern Rock bank.
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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 decided to nationalize Northern  Rock  on Sunday, abandoning a five-month attempt to  snare a private sector buyer for the ailing bank and piling  more pressure on Prime Minister Gordon Brown.
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Northern Rock, the British bank nearly sank by the global credit crunch, faced a shareholder vote Tuesday over plans to limit management's ability to sell the group without consulting investors.
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The future of ailing British bank Northern Rock -- including possible nationalisation -- is to be decided in the next six weeks, the Chancellor of the Exchequer Alistair Darling said in an interview on Saturday.
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Embattled bank Northern Rock said on Wednesday it had been approached by several unnamed parties with a view to a possible takeover.
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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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The Bank of England has stepped in to provide emergency financial support to Britain&#39;s fifth-largest mortgage lender Northern Rock, the latest institution to fall victim to market turmoil, officials confirmed Friday.
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British finance minister Alistair Darling announced on Sunday the temporary nationalisation of troubled bank Northern Rock, which was hit by the global credit crunch in August.
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Emergency legislation is to be introduced to temporarily nationalise the UK's stricken Northern Rock bank.
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British Prime Minister Gordon Brown says stricken mortgage lender Northern Rock PLC will remain nationalized until adverse market conditions change.
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SHANGHAI/LONDON  - 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.
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Britain announced on Sunday the nationalisation of troubled bank Northern Rock six months after it was hit by the global credit crunch, in an embarrassing blow for Prime Minister Gordon Brown's government.