U.K. Chancellor of the Exchequer George Osborne has told a parliamentary committee the government will gradually reduce its stake in Lloyds Banking Group over the next six months.
Mr. Osborne told the Treasury Committee that shares in Lloyds wouldn’t be sold for less than the 73.6 pence paid during the bank’s bailout. One Treasury official said the government would sell an up-to 5% stake in the bank for around
£3 billion.
Meanwhile, the Treasury has largely ruled out a sale of shares in Royal Bank of Scotland ahead of a general election in May.
Click here for the full Bloomberg article
Click here for the full FT article (£)
Click here for the full Times article (£)
The Guardian, p. 28
The Independent, p. 57
