News and Politics | September 29, 2008 | 0 comments

UK government bail out of Bradford & Bingley confirmed

source: http://news.bbc.co.uk/1/hi/business/7641193.stm

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mattbrawn
The UK Government has confirmed this morning that it has nationalised Bradford and Bingley's £41bn residential mortgage book after no-one wanted to buy it.

Rumours were rife over the weekend as to B&B's future, but Alastair Darling has spoken this morning saying the mortgage side of the business has been nationalised and that the savings side of the business has been sold to Spanish banking dons, Santander, for a figure believed to be in the region of £612m.


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