Gains Momentum

Nationwide petition for Virgin Money takeover gains momentum

A special meeting is imminent as a petition urging Nationwide to grant members a voice in its acquisition of Virgin Money approaches the required number of signatures. Debbie Crosbie led the building society, which maintains that consulting its 16 million members who own the mutual on its proposal for the High Street lender is unnecessary. Nationwide contends that any consultation could cause the £2.9 billion transaction to be delayed.