Virgin to bid for Rock on Monday

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Sir Richard Branson has confirmed the Virgin Group will lodge a bid for beleaguered lender Northern Rock on Monday.

The Virgin boss says the group is ironing out the final offer details in time for Chancellor Alistair Darling’s February 4 deadline. Branson has stated his intention to create a strong bank for the future and plans to ensure taxpayers get all their money paid back. Meanwhile, BNP Paribas today confirmed it was looking at troubled French rival Societe Generale. A BNP spokeswoman says France’s largest bank was studying Societe, like all its European peers. The French Government today warned it would block any foreign bids for Societe. To comment on this story, contact: Hysni Kaso Report...

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