{"id":7141,"date":"2008-02-15T00:00:00","date_gmt":"2008-02-15T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-push-for-rock-nationalisation","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/02\/2008\/hedge-funds-push-for-rock-nationalisation.html","title":{"rendered":"Hedge funds push for Rock nationalisation"},"content":{"rendered":"<p>This is Money- The biggest shareholders in Northern Rock are threatening to block a rescue package from Sir Richard Branson &#8211; and force nationalisation. <!-- DO NOT REMOVE - FLOAT END --><\/p>\n<p>&nbsp;<\/p>\n<p><a name=\"endpromo\"><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>SRM Global and RAB Capital, the hedge funds which together own 19.68% of the bank, are said to be ready to oppose the bid from Virgin Group when it is put to a shareholder vote. <\/p>\n<p>Virgin is offering investors a heavily diluted stake through a rights issue at 25p a share. SRM boss Jon Wood has taken legal advice and believes the Government must pay shareholders 400p a share, the book value of the bank, if it is nationalised, at a cost of &pound;1.6bn. <\/p>\n<p>&#8216;We currently oppose the Virgin plan,&#8217; said a source. &#8216;If it were a twoway competition between Virgin and nationalisation, we would vote for nationalisation.&#8217; <\/p>\n<p><a href=\"http:\/\/www.thisismoney.co.uk\/investing-and-markets\/article.html?in_article_id=430385&#038;in_page_id=3\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is Money- The biggest shareholders in Northern Rock are threatening to block a rescue package from Sir Richard Branson &#8211; and force nationalisation. &nbsp; &nbsp; SRM Global and RAB Capital, the hedge funds which together own 19.68% of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7141","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7141"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}