Northern Rock climbs on report of further suitors

LONDON (Reuters) - Shares in Northern Rock NRK.L climbed over 10 percent at the open on Monday, boosted by a report that two further private equity firms had expressed an interest in the stricken mortgage lender.

The Wall Street Journal, citing unidentified sources, reported that the Blackstone Group (BX.N) and Apollo Management had both expressed interest in Northern Rock last week.

The bank's volatile stock was up 10.4 percent at 8:15 a.m. at 175 pence, valuing the bank at just over 737 million pounds.

Several bidders have expressed interest in Northern Rock, engulfed in crisis since troubles on the wholesale funding market forced the Bank of England to extend an emergency loan facility, triggering a run on the bank's deposits.

Sources familiar with the matter said last week that Northern Rock's advisers are in talks with U.S. buyout firm JC Flowers & Co, while Cerberus Capital is also considering a move.