Which ever company wins the auction to take over control of Northern Rock it is questionable whether the taxpayers will ever get all of their money back.

The bidders must make a proposal as to how they will repay the £25 billion plus loan from the Bank of England some are promising early repayment of a substantial part of the debt. Such promises look like attempts to win the favour of shareholders, who must decide which of the bidders, expected to number about 10, is successful.

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Posted: 11|18|07 at 9:35 am. Filed under: Auction News.