The Singapore-based consortium led by Bill Ng had emerged as the likely preferred bidder for Rangers. But now Ng has withdrawn his bid. He is not satisfied that the Rangers shares can be delivered in a form and time frame that would permit him to pursue his preferred option of taking Rangers out of administration through a company voluntary arrangement.
The Singapore-based consortium led by Bill Ng had emerged as the likely preferred bidder for Rangers. But now Ng has withdrawn his bid. He is not satisfied that the Rangers shares can be delivered in a form and time frame that would permit him to pursue his preferred option of taking Rangers out of administration through a company voluntary arrangement.
He has not ruled out re-entering the process at a later stage which raises the question of whether this is a negotiating ploy to put pressure on the administrators, Duff and Phelps. However, for the time being it leaves American truck tycoon Bill Miller as the leading bidder and he intends to press his claim over the weekend.