"We´re open"

Despite stricken mortgage lender Northern Rock may see the value of its equity wiped out and is expected to owe the Bank of England for years to come, the bank goes on trying to recover customers´confidence in order to have their funds reinvested in the company.http://www.northernrock.co.uk/



A briefing memorandum prepared for prospective buyers of the bank by its advisers has just appeared. The most likely options may suggest that shareholder value will be disappeared and that the bank will have to rely on funding from the Bank of England until 2010. http://www.ft.com/cms/s/0/bdc07a86-91d9-11dc-8981-0000779fd2ac.html



On the other hand another possible bidder for the bank appeared last weekend. The potential buyer in question is Luqman Arnold, the former UBS executive and chief executive of Abbey. Mr Arnold is proposing to help the bank through his investment group Olivant Advisers. http://www.olivant.com/press-releases/



To sum up, the "Blackbird´s" future is still a big mystery in the financial market, something which may not help its shares price performance in the short term.