Deutsche To Advise On Northern Rock Sale

The U.K. government has appointedDeutsche Bankto advise on options forNorthern Rock,The Wall Street Journalreports.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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