5th Jun 2015 14:49
LONDON (Alliance News) - The UK government is giving thought to begin disposing of shares in Royal Bank of Scotland Group PLC so as to avoid selling shares in a way that would collide with the full return of Lloyds Banking Group PLC to the private sector, Reuters reported on Friday, citing banking and political sources.
According to the report, government officials are considering whether a first sale of RBS shares could take place in September, with between GBP3 billion and GBP5 billion considered a viable amount.
Reuters said that decisions on the matter are yet to be made.
The government owns about 80% of RBS after a GBP45 billion bailout in the financial crisis of 2007-09. It used to own 43% of Lloyds but has been able to reduce the stake to just below 19% through share sales.
RBS shares were up 2.1% at 359.0 pence on Friday afternoon, while Lloyds shares were down 0.5% at 87.04p.
http://uk.reuters.com/article/2015/06/05/uk-rbs-sale-idUKKBN0OL1J620150605
By Samuel Agini; [email protected]; @samuelagini
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