RBS stake may be sold at a loss, chancellor admits

RBS stake may be sold at a loss, chancellor admits
 

The chancellor has admitted for the first time that the government is prepared to sell its stake in Royal Bank of Scotland (RBS) at a loss.
The Treasury bailed out the bank by buying a 72% stake for £45bn, at 502p a share, at the height of the financial crisis in 2008.
Shares in the loss-making lender are now trading at less than half that price at 223p.
Philip Hammond told MPs on Tuesday: "We have to live in the real world."
He added: "Our policy remains to return the bank to private hands as soon as we can achieve fair value for the shares, recognising that fair value could... read more

 
19 April 2017 in Business, Views: 37
Source: BBC
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