29th May 2018 06:59
LONDON (Alliance News) - The UK government is likely to sell a multi-billion pound stake in Royal Bank of Scotland Group PLC as soon as this week, Sky News reported Monday, citing "banking sources".
The government currently owns a 70.5% stake in the Edinburgh-based lender.
According to the news agency, the stake sale would be subject to wider stock market conditions and ministers' ability to demonstrate that the taxpayer was getting value for money, which could cause delays in the sale.
Sky News, citing a city analyst, reported that a disposal could target proceeds of more than GBP3 billion, equating to roughly a 10% stake in the bank.
RBS was rescued from collapse with capital injections from the Treasury totalling GBP45.5 billion at an average share price of 502 pence per share.
https://news.sky.com/story/government-to-pursue-plan-for-multibillion-pound-rbs-stake-sale-11388204
Related Shares:
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