Government to sell 7.7% stake in RBS

Government to sell 7.7% stake in RBS
 

The government has announced plans to sell a 7.7% stake in Royal Bank of Scotland.
The latest sale of 925 million shares, expected to raise £2.6bn, will reduce its holding in RBS from 70.1% to 62.4%.
The bank has been majority owned by the government since it was bailed out to the tune of £45bn at the height of the financial crisis in November 2008.
The government owns 8.4 billion shares in RBS, which closed on Monday at 281.1p, valuing the bank at £33.8bn.
The disposal will take place this week in a process managed by investment banks Morgan Stanley, Citigroup, Goldman Sachs and JPMorgan,... read more

 
4 June 2018 in Business, Views: 59
Source: BBC
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