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Evening Standard

Business

Simon English

Nationwide swoops on Virgin Money in controversial £2.9 billion deal

Nationwide Virgin Money Virgin Debbie Crosbie Nationwide Building Society

NATIONWIDE Building Society risked accusations it is moving away from its mutual roots today with a £2.9 billion deal to buy Virgin Money that cuts competition in the market.

The deal, soon after the arrival of CEO Debbie Crosbie, is brokered by some of the top bankers in Europe including Goldman Sachs’s Anthony Gutman, who sold Morrisons to private equity for $10 billion.

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