Monday 25 September 2017

UK Treasury makes Lloyds Banking Group shares error

A branch of the Lloyds Banking Group
A branch of the Lloyds Banking Group

Britain's finance ministry mistakenly released potentially market-moving information and blamed a website error for erroneously saying it planned to sell £4bn (€4.9bn) of shares in Lloyds Banking Group. The government is not planning to sell the shares, and the release was "erroneous", a Treasury spokesman said.

Sources said investors should not read anything into the release, which was received by news organisations. Lloyds shares briefly dipped following the email release, but recovered to close up 0.4 percent at 77.75 pence. Britain still owns a quarter of Lloyds, after selling two blocks of shares in the bank in September and March.

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