Connect with us

Hi, what are you looking for?

News

Govt to sell more of Llloyds shares

The British government will resume the sell-off of its stake in Lloyds Banking Group over the next six months. It will sell a further £3 billion worth of shares in the run-up to the general election. Chancellor George Osborne announced the share sell-off just 24 hours after the 24% taxpayer-owned bank had scraped through Bank of England stress tests. The shares are to be drip fed into the market over the next six months in a different sales process to that used in the past. It could cut the taxpayer’s stake in Lloyds to 20%, less than half the 43% the government took after almost £20 billion was pumped into the bank after the 2008 banking crisis.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.