Thursday 17 April 2014

UK government could sell off Lloyds bank stake in 2014

facade Lloyds of London Bank UK
Facade Lloyds of London Bank UK

The British government could sell off all of its £18.4bn stake in the Lloyds banking group in 2014, the Daily Telegraph reported, citing unnamed sources.

The newspaper reported that the entire government holding could be sold off in the next 12 months in a combination of retail and institutional offerings.

"Post-results is when a further institutional offering would make most sense. After that, the thinking is an autumn sale, combining an institutional and a retail segment, is a realistic prospect," a source was quoted as saying.

The UK government has already sold off 6pc of its stake in the partly nationalised bank, raising over £3.2bn in September this year.

The government currently holds around 33pc of the bank, five years after Lloyds and rival Royal Bank of Scotland were bailed out by the government at the height of the credit crunch.

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