UK eyes stake sale
Source: Agencies |
May 16, 2011, Monday
|
Print Edition
Print Edition
BRITAIN may start selling its stakes in banks bailed out during the credit crisis with a 5 billion pound (US$8.1 billion) Royal Bank of Scotland share sale as early as the first half of 2012, the Sunday Telegraph said yesterday.
The report, which cited sources close to the process, said this possible RBS stake sale would target institutional investors and sovereign wealth funds in the Middle East and Asia.
Officials at the British Treasury could not be immediately reached for comment on the report.
The government accumulated a stake of 83 percent in RBS and around 40 percent in Lloyds after bailing out both banks with billions of pounds of taxpayers' money during the credit crisis.
(Reuters)
The report, which cited sources close to the process, said this possible RBS stake sale would target institutional investors and sovereign wealth funds in the Middle East and Asia.
Officials at the British Treasury could not be immediately reached for comment on the report.
The government accumulated a stake of 83 percent in RBS and around 40 percent in Lloyds after bailing out both banks with billions of pounds of taxpayers' money during the credit crisis.
(Reuters)
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