4th Nov 2015 15:57
LONDON (Alliance News) - The UK government is likely to wait until 2016 to sell further shares in Royal Bank of Scotland Group PLC, Bloomberg News reported on Wednesday, citing a person with knowledge of the matter.
The report comes after RBS reported third-quarter earnings weaker than expected by analysts.
RBS on Friday last week said it swung to a third-quarter operating loss of GBP134.0 million from a GBP1.11 billion operating profit a year before. Adjusted operating profit fell to GBP842.0 million from GBP2.05 billion.
The UK owns 72.9% of the bank, having sold a 5.4% stake at a loss in August.
Shares in RBS were up 1.2% at 325.20 pence on Wednesday afternoon.
http://www.bloomberg.com/news/articles/2015-11-04/u-k-said-to-pause-rbs-sale-until-2016-as-bank-earnings-decline
By Samuel Agini; [email protected]; @samuelagini
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