This is Money- Sir Richard Branson looks set to win control of Northern Rock, in what would be a major blow to shareholders, who would find their holdings severely diluted.
The Treasury has been told by its adviser Goldman Sachs that Branson’s Virgin bid is the best offer on the table, sources close to the government have said.
This makes it increasingly likely that Chancellor Alistair Darling will back Virgin’s rescue plan – even though it has been condemned by the Rock’s largest shareholders, SRM and RAB Capital.
