Virgin Money will bid for the Rock

City A.M. Reporter
VIRGIN Money will submit a second round bid for nationalised bank Northern Rock today, billionaire investor Wilbur Ross, who is a major shareholder of Virgin Money, has said.

“We are big investors in Virgin Money, Richard Branson’s company, and we are backing Virgin in their bid for Northern Rock,” the chairman and chief executive of WL Ross said during a trip to Tokyo yesterday.

“We are actually putting in the bids tomorrow. Tomorrow European time.”

In July, Virgin Money first submitted an expression of interest in Northern Rock.

Ross also said he was interested in boosting his investments in Japanese private equities.