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Sale of Northern Rock on agenda

David Hellier
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THE possibility of Northen Rock&nbsp; being prepared for a sale will be high on the agenda later this week when the government outlines its plans for the UK banking sector.<br /><br />Keen to improve the competitive environment in UK banking, the government is expected to open the door to the sale of Northern Rock to a group that has no presence on the High Street. Virgin Money is considered the likeliest buyer but there could be surprise interest from elsewhere.<br /><br />UKFI, which has major stakes in Lloyds Banking Group and RBS, is expected to hang on to those positions&nbsp; until investors have regained confidence in the UK banking sector. UKFI will make a statement later this week.