any comments, thoughts, on this stock.

MADRID, Sept 25 (Reuters) - A group of investors headed by a Spanish entrepreneur is interested in buying ailing British mortgage lender Northern Rock (NRK.L: Quote, Profile , Research), Spanish daily El Mundo reported on Tuesday, citing sources close to the entrepreneur's company Nueva Rumasa.

The group wrote to Northern Rock's chief executive Adam J Applegarth on Sept. 21, stating: "Mr Jose Maria Ruiz-Mateos, representing a group of Spanish investors, would be interested in acquiring a package of shares in Northern Rock large enough to give him direction of the bank."

The British lender had acknowledged receipt of the letter but had not responded, said the paper.

The letter stated the investors would be prepared to meet with "the necessary authorities with a view to examining the possibilities of the acquisition".



Ruiz-Mateos previously built up a large business empire but had many of his assets confiscated by the socialist government in the 1980s.

Northern Rock said it would not comment on the report.


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who buys all these shares when the price is dropping every day ??

Barry
Punters that dont normally buy shares including a lot of my friends who have bought on the information they have picked up from the media that NRK is cheap. IMO 100p looks expensive.

As well as Barclays that seems to have reached/crossed the 5% threshold as per London Stock exchange announcement.

What numbers you using for your 100p, driver?

Barclays holding is described as indirect?

Barclays were also very busy buying BFC just before the final collapse!

Well as they had lent BFC so much they couldnt do any thing else but take them over. Cynic are you suggesting BARC has large funds out to NRK?

merely referring back to 369 ..... if BARC has increased its holding to 5.01% then they have either been buying NRK for their own managed funds or via CFDs or similar for clients

Big Al
Possible break up of NRK, possible no divi, possible muti profit warnings ahead, possible complete collapse of NRK (as you can see I do not hold) so am looking at it realistically.

OK, just wondered. I'm a bull at these levels for now. I think this drop is well overdone.

160 might trigger a lot of stop loses.

Just heard on BBC news that interim divi will NOT be paid.
I suspect this saga will rumble on for a while!
Those people who bought on the expectation of a good divi are going to be seriously p*ssed off!

Hasn't made a big difference to the price yet.

I think I can see why NRK have struggled;
Taken from AFX report this afternoon;

As recently as yesterday a spokesman for the bank, which has seen its shares tumble almost 300 pct after the lender was forced to seek emergency funding from the Bank of England, said it would still pay the first half dividend.

An SP fall of 300%???
Maths and percentages not the strong point there then?
;-)
Alan

I 90%, completely agree Alan... :)

Its okay though, cos the Office for National statistics said that of the 108% of people who responded to a survey, 83% didn't respond, 32% didn't understand statistics, but 162% understood them perfectly.

On a sort of similar note, it has been said that economists have successfully predicted five of the last three recessions.

withdrawing the divi is a bit like finger in the dyke stuff ...... f'ed if they do and f'ed if they don't

Tomorrow will see another big drop in NRK once ex-div. Finished at 163p today.