UK to restart selling down stake in Lloyds Banking Group
The British government will resume selling its residual 3.6 billion pound stake in Lloyds Banking Group (LLOY.L) after a break following the vote in June to leave the European Union.
UK Financial Investments Limited (UKFI), which manages the government's stake in the bailed out bank, said it would relaunch a mothballed trading plan led by Morgan Stanley to try to return the bank to full private ownership over the next 12 months.
The plan means the shares will be offered in increments to institutional investors, with the first sales likely in the coming days.
It has recommended scrapping... read more
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