(Dow Jones) -- London - With shareholders holding at least 15% of Northern Rock behind it, Olivant Advisors should look like the most likely buyer of the troubled UK bank. Olivant's plan would be less dilutive of shares than the rival Virgin Group plan. But Olivant's supporters are probably at best hoping to get better terms from Virgin. Northern Rock's shareholders face the small problem that their company is being kept afloat by the government.

They do get to vote on the deal, but voting the wrong way could result in them getting nothing.