The European Commission is next week expected to approve a radical restructuring of UK lender Northern Rock, paving the way for the break-up and sale of the nationalised bank. Northern Rock’s proposal to split itself into two, in effect creating a “good” and “bad” bank, was submitted to Brussels for state aid approval this year. The Commission is expected to authorise the plan next Wednesday in its final formal session before the expiry of its five-year term.

This entry was posted by Gwen Robinson on Friday, October 23rd, 2009 at 3:15 and is filed under Capital markets. Tagged with northern rock. Edit this entry.