5th Jul 2016 05:47
LONDON (Alliance News) - The chief executive of Royal Bank of Scotland Group PLC has said the government's planned sale of its controlling stake in the company has been delayed for at least two years due to Britain's vote to leave the European Union, the Financial Times reported.
Ross McEwan said the Brexit decision had been a "real hit to the bank", speaking to LBC Radio. "This will be a setback; let's be honest. I think at least a couple of years it will be pushed back."
McEwan was referring to the UK government's target of raising GBP29.0 billion from selling the majority of its 73% stake in RBS over the next five years.
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By Sam Unsted; [email protected]; @SamUAtAlliance
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