REFILE-UPDATE 1-Tesco probably not interested in N. Rock -source
By : (Refiles to correct date) (Recasts with industry source comment, background, shares)
Date posted :2009-07-01 05:44:00
LONDON, July 1 (Reuters) - Tesco (TSCO.L), Britain's biggest retailer, is unlikely to be interested in a bid for nationalised bank Northern Rock (NRKx.L), an industry source said on Wednesday.
Earlier, the Times newspaper said Tesco had shown a provisional interest, alongside private equity funds and Richard Branson's Virgin Group, in Britain's highest-profile victim of the credit crunch, which was nationalised in February 2008.
The industry source told Reuters the supermarket group had expressed some interest in the past, but this had not led to anything.
Tesco said it did not comment on rumour and speculation.
The supermarket group announced a major push into banking last July with a 950-million-pound ($1.6 billion) deal to buy out Royal Bank of Scotland (RBS.L) from the two firms' finance joint venture.
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