| Northern Rock says in takeover talks with several parties |
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 LONDON (AFP) - Embattled British bank Northern Rock said on Wednesday it had been approached by several unnamed parties with a view to a possible takeover.The bank also said it was cancelling plans to pay 59 million pounds (107 million dollars, 80 million euros) in dividends to shareholders on October 26, as such a move would not be appropriate at the moment. The lender's shares have slumped by about 73 percent in value since it was forced to request an emergency bail-out from the Bank of England (BoE). Confidence in the British banking system has been shaken since mid-September when Northern Rock applied for the emergency funds from the BoE due to the global credit crunch. The news sparked the first run on a British bank in living memory as anxious savers rushed to withdraw their cash from Northern Rock branches. But the panic eased last week after the government guaranteed all existing deposits.             |
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