Big UK Banks show little intrest in Northern Rock
Published September 19th, 2007
Lloyds TSB and HBOS said separately that they had no intention of buying Northern Rock, according to sources questioned by Thomson Financial. He added: “The best outcome for Northern Rock — the brand having been damaged in the way it has — would be to be acquired.”
Northern Rock said in a note to the London stock exchange authorities that German bank Deutsche Bank had last Friday acquired 3.64 percent of its capital.
The fresh share price fall came despite gains across most of the London stock market following a deep US interest rate cut.
London’s FTSE 100 index of leading shares, on which the group is listed, surged 2.05 percent to stand at 6,412.30 points.
Northern Rock stock had regained 8.22 percent on Tuesday after slumping by 55 percent in value over the course of Friday and Monday.
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