SWF mentioned in Virgin bid for Northern Rock

A Middle-Eastern sovereign wealth fund could make up part of Virgin's consortium bid for Northern Rock.

According to the Financial Times, the sovereign wealth fund has approached Virgin, along with three US investors, regarding the bid.

Virgin said on Friday that it was looking into the possibility of buying the UK mortgage lender, which now owes the Bank of England an estimated £13 billion ($27 billion). It submitted a bid to Northern Rock's adviser Merrill Lynch on Friday.

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