Sir Richard Branson's Virgin Group is today reported to be the latest suitor eyeing a move for crisis-hit Northern Rock.
It is understood that the gyms, phones and airline group is looking to take a controlling stake in the troubled bank with the backing of investors in the Middle East and the United States, according to The Times newspaper.
A tie-up could see the mortgage lender's operations merged with the firm's Virgin Money business, which already offers mortgages, credit cards and insurance services.
Earlier this month, it emerged that New York-based private equity firm JC Flowers had raised £15 billion to bid for the bank, while private equity firm Cerberus is also understood to be interested in the the firm's assets.
Other names in the frame have included Blackstone and Apax, although no formal offers have yet been tabled.
Banking giant Citi has also agreed to be on hand to lend Northern Rock some £10 billion to help ease its funding crisis.
It is understood that Virgin is putting together a finance package that could involve the loan from Citi, and would seek to take control of the group through the issuing of new shares.
It will not make a formal offer for the bank, The Times reported. Virgin was not immediately available for comment.
Northern Rock shares were up 6% at 273p in London on Friday evening.
