Coventry Building Society has flagged its willingness to buy the so-called "good-bank" Northern Rock and remutualise the state-owned lender after its bail out and nationalisation in February 2008.
A campaign to remutualise the lender has been underway for some time, according to The Guardian, but Coventry is the first buyer to throw its hat into the ring for the bank. A Coventry spokesperson said: "The Government and UK Financial Investments Ltd have yet to confirm the process and timetable for the sale of Northern Rock. When that decision is made the Board will examine the criteria laid down and decide the next steps to take. "At this stage we cannot rule anything out but emphasise that whatever decision is made will be in the best interests of the Society's members." Deuts...
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