Government Plans To Sell Part Of RBS Stake To Private Investors
In a report earlier this week the BBC claims that The Treasury could begin the process of selling part of the government’s stake in Royal Bank of Scotland from Monday. Chancellor George Osborne announced in June his plan to sell the bank back to private investors.
According to the BBC the government paid about 500p a share for the bank, compared with the current price of about 342p.
RBS reported a half-year loss of £153m last week after setting aside more money for repaying customers and potential legal settlements, but the bank’s net profit rose to £293m for the three months to the end of June.
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