{"id":6903,"date":"2007-12-14T00:00:00","date_gmt":"2007-12-14T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"blow-for-virgins-northern-rock-bid","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2007\/blow-for-virgins-northern-rock-bid.html","title":{"rendered":"Blow for Virgin&#8217;s Northern Rock bid"},"content":{"rendered":"<p>MSN UK News- Sir Richard Branson&#8217;s bid for Northern Rock has taken a blow after the crisis-hit lender placed a rival suitor on an equal footing, it has been reported.<\/p>\n<p>  A Virgin-led team was the Newcastle-based firm&#8217;s preferred bidder, but Olivant, an investment company led by former Abbey boss Luqman Arnold, has now been given access to the company&#8217;s banks and  management, according to several newspaper reports.<\/p>\n<p>  Olivant had threatened to pull out of the running after the beleaguered lender blocked its efforts to hold talks with a consortium of banks putting up loans of up to \u00c3\u201a\u00c2\u00a315 billion to finance a rescue  bid.<\/p>\n<p>  Northern Rock has borrowed about \u00c3\u201a\u00c2\u00a325 billion from the Bank of England in emergency funding so far after being hit by the credit crunch in September.<\/p>\n<p><a href=\"http:\/\/news.uk.msn.com\/Article.aspx?cp-documentid=6992078\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSN UK News- Sir Richard Branson&#8217;s bid for Northern Rock has taken a blow after the crisis-hit lender placed a rival suitor on an equal footing, it has been reported. A Virgin-led team was the Newcastle-based firm&#8217;s preferred bidder, but [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6903","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6903"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6903\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}