Virgin's Branson Says May Still Refine N.Rock Bid

NEW DELHI (Reuters) - Britain's Virgin Group has submitted a fair offer for embattled mortgage bank Northern Rock NRK.L but the terms could still be tweaked, owner Richard Branson said on Monday.

"Until we see details of the deal, I can't say whether we will in any way change the terms of our offer, but we believe our offer was a fair one," Richard Branson told reporters.

He said the government's proposal to convert its lending to Northern Rock was a workable one.

"We believe from what we've seen that the package is workable and it should be possible for a private consortium like the Virgin bank to make a go of it but obviously we need to see the small print," he said.

Asked whether other bidders could enter the frame, he said.

"It's always a possibility. I think with two weeks to go it's obviously less likely than likely but it's certainly always a possibility."

Branson is accompanying British Prime Minister Gordon Brown on a trip to India.

(Reporting by Adrian Croft; Editing by Quentin Bryar)