The U.K. government has appointed Deutsche Bank to advise on options for Northern Rock, The Wall Street Journal reports. U.K. Financial Investments, the body that owns and manages the U.K. government’s stakes in several banks, has not set a timeframe for the return of the company to private ownership. Northern Rock may choose an outright sale, an initial public offering or a remutualization as well as a sale to another banking group. Northern Rock, which comprises £16.7 billion in retail deposits, a £12.2 billion mortgage book and 75 branches, posted a loss of £223.4 million for 2010.
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