Northern Rock shareholders wait on compensation

LONDON (Reuters) - Britain's finance minister Alistair Darling said shareholders of troubled bank Northern Rock NRK.L would receive some compensation after announcing on Sunday that the lender was to be nationalized.

"The legislation will enable the government to acquire the bank's shares and its assets. It will provide for compensation to be determined by an independent valuer," Darling said.

He added that the compensation would be calculated assuming that the bank had not been propped up by around 25 billion pounds ($49.14 billion) of government loans.

(reporting by Marc Jones)