Government could sell up to half its stake in Royal Bank of Scotland 'in months'
Sale: RBS shares could be offloaded 'in months’
The Government may start to sell up to half its stake in RBS in the next couple of months.
UKFI, which manages the Treasury’s shareholding in banks, has indicated it is likely to offload some of its £32billion stake in the next 12 months, and September is likely to be the earliest it could do so.
A decision will be made after taking into account market conditions, the bank’s performance and ongoing investigations into its past mis-selling of US sub-prime mortgage securities, a source told the Mail.
Chancellor George Osborne is keen to offload the 80 per cent stake in the bank, which it bailed out with the help of £45billion of taxpayers’ money during the financial crisis – even if this means suffering a loss on the original investment.
A spokesman for UKFI declined to comment and RBS (down 12.8p at 346.5p) could not be reached for comment.
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