Report says Spanish investors eyeing Northern Rock

MADRID (Reuters) - A group of investors headed by a Spanish entrepreneur is interested in buying ailing mortgage lender Northern Rock, Spanish daily El Mundo reported on Tuesday, citing sources close to the entrepreneur's company Nueva Rumasa.

The group wrote to Northern Rock's chief executive Adam J Applegarth on September 21, stating: "Mr Jose Maria Ruiz-Mateos, representing a group of Spanish investors, would be interested in acquiring a package of shares in Northern Rock large enough to give him direction of the bank."

The lender had acknowledged receipt of the letter but had not responded, said the paper.

The letter stated the investors would be prepared to meet with "the necessary authorities with a view to examining the possibilities of the acquisition".

Ruiz-Mateos previously built up a large business empire but had many of his assets confiscated by the socialist government in the 1980s.

Northern Rock said it would not comment on the report.