Northern Rocks problems seem to be worsening after the lender revealed offers to take it over substantially undervalued the company.
The bank had to borrow 36 billion euros from the Bank of England two months ago on the back of the US sub-prime credit crash.
British finance minister Alistair Darling told parliament this money would be repaid. He also refused to rule out future help for anyone wanting to rescue Northern Rock. However he added that bidders should not take it as given, especially as continued state aid goes against EU rules.
But the offers made so far are "materially below" the share price, say Northern Rock.
That may not be the case for long. Its shares plunged a further 21 percent since that announcement to a new all-time low.
So far there are just two bidders for the Newcastle-based bank, which employs around 6,000 workers, one of which is Sir Richard Branson's Virgin.
The bank says it's still open to offers.
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