Potential investors being sought to buy bank stakes
by Kay Murchie
It has been reported that the Government is in talks to sell off its stakes in part-nationalised banks: Lloyds Banking Group and Royal Bank of Scotland (RBS).
UK Financial Investments Ltd (UKFI), which was established to oversee taxpayer’s interest in UK banks, is believed to be sounding out investors abroad.
However, a speedy sale is unlikely since UKFI is expected to secure the best outcome for the taxpayer and the banks involved.
UKFI manages the Government’s 43.5% stake in Lloyds Banking Group and its 70% stake in RBS.
Chancellor Alistair Darling has long been vocal of the fact that he intends to return the part-nationalised and nationalised banks back to the private sector.
However, with regard to nationalised Northern Rock, it was reported last month that the Government is planning to sell the lender by the end of the year.
Discuss this in the Finance Markets forums
Story link: Potential investors being sought to buy bank stakes
Related financial stories to: Potential investors being sought to buy bank stakes:
- Barclays secures £4.5bn
- UKFI admits selling stakes in nationalised banks will be “challenging”
- Virgin Group may bid for Northern Rock
- Hedge Funds take stakes in Northern Rock
- Potential buyers emerge for crisis-torn Reader’s Digest
Next: Japan’s economy in worst performance since records began »
Visited 930 times, 2 so far today
No Comments »
No comments yet.
RSS feed for comments on this post.
Leave a comment
Tags: banks, Government, investors, part-nationalised, sale, seeking, stakes, UK Financial Investments Ltd, UKFI
