Branson has 'winnable package' for Northern Rock

Virgin boss Richard Branson said today he believed he had a “winnable package” to see his bid for the ailing Northern Rock bank succeed.

Branson, speaking in Shanghai where he is accompanying Prime Minister Gordon Brown as part of Britain’s delegation, said some Chinese money could be involved in his package – but stressed it was essentially “British-backed” and under his deal the bank would be “very much a British bank”.