25th Sep 2015 06:28
LONDON (Alliance News) - The UK government has cut its stake in Lloyds Banking Group PLC, meaning it now owns 11.98% of the FTSE 100 bank, according to a stock exchange filing on Friday.
The further reduction to its stake is down from the 12.97% it held at the end of August, the last time the government sold off some of its holding.
The government is in the process of returning the lender to private ownership after taking a 43% stake in the lender through a GBP20 billion bailout in the global financial crisis of 2007-09.
By Sam Unsted; [email protected]; @SamUAtAlliance
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