Chancellor unveils plans to sell remaining stake in Lloyds Banking Group

Chancellor unveils plans to sell remaining stake in Lloyds Banking Group
 

Philip Hammond said heightened volatility in financial markets would see the Government's 9.1% stake sold through a trading plan to institutional investors.
The move would ensure the Government recoups the entire £20.3 billion used to bail out the bank during the 2008 financial crisis, Mr Hammond said.
Shares in Lloyds, which have plunged 23% since Britain voted to leave the European Union, were down more than 3% after the announcement.
Speaking in Washington during his first trip to the US as Chancellor, Mr Hammond said he had "listened to the experts" and ongoing market... read more

 
7 October 2016 in Regional West, Views: 31
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