Quote:
Originally Posted by ShaneC
So, we get back 50% of the money we put into it, great deal  |
It's a good deal if it's worth more than all the other offers on the table. UK plc needs that money right now. There's no point holding on to Northern Rock for another five years in the hope that it might eventually be worth what it cost to rescue it.
Besides, additional payments over the next couple of years will make the deal worth nearer £1 billion, and if Branson sells the thing off within 5 years the Treasury will get a cut of that as well.