04 octobre 2007, 0h00
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Chris Flowers needs friends with deep pockets if he is to snap up Northern Rock. More precisely, the private equity financier probably has to raise £15bn-£20bn. Flowers needs the funds primarily to make sure Northern Rock can repay the wholesale money which it borrowed to finance its growth splurge over the next year.
Persuading a group of banks to put up that amount of cash for the stricken UK mortgage bank may sound a tall order - especially given that no bank seems particularly keen to buy N...
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