CIC in talks over potential investment in Northern Rock
China Investment Corp. (CIC) is being courted by British entrepreneur Sir Richard Branson as a potential partner for Virgin Money in a bid for UK lender Northern Rock. The bank, which received a GBP1.4 billion government bailout in 2008, is tipped to sell for around GBP1 billion, The Telegraph reported.
Virgin Money has already secured financial support from The Carlyle Group, General Altantic and the Universities Superannuation Scheme. US tycoon Wilbur Ross has also pledged GBP500 million to the bid....
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