Speaking to Northern Rock's recently appointed chairman Brian Sanderson, the BBC has said he confirmed that no action will be taken for the time being.
This is in spite of the government's indications that it wished to see some form of decision made by mid-December.
This newest report follows swiftly on from Liberal Democrat leader Vince Cable's calls for the bank to be temporarily nationalised. Cable claimed that no bidder could possibly raise the funds to pay back the £25 billion Northern Rock has been loaned by the government to date.
Olivant's fresh bid is now said to be backed by 23 per cent of the bank's shareholders, despite Virgin Group being the bank's formally acknowledged preferred bidder.
