Further fall in Northern Rock shares

Northern Rock shares dropped further on Tuesday from 104p ($2.14) to 95p at the close after losing almost a fifth of their value on Monday. The drop follows comments by the British chancellor and rumours that one of the bids tabled for the troubled lender would offer investors just 10p per share.

Alistair Darling, the British chancellor of the exchequer, told parliament on Monday afternoon he would favour bids for the lender which look to protect the taxpayer's, rather than the shareholder's,

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