Split of Northern Rock expected in 2010

Split of Northern Rock expected in 2010


LONDON (Reuters) - The European Union will on Wednesday approve Britain's plan to break up failed bank Northern Rock, paving the way for a split in early 2010 and the eventual sale of parts of the bank, a source familiar with the situation said. The British government nationalized Northern Rock in early 2008 after it became the first major British victim of the credit crisis.

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