Britain has cut its stake in Lloyds Banking Group to below 16 percent, taking the total raised through the sale of the government's shares in the bank to more than 12.5 billion pounds (US$19.5 billion).
Lloyds said on Thursday that Britain's finance ministry had reduced its stake to 15.9 percent, from 16.9 percent, in a further step towards its full privatisation which is expected next year.
The bank was rescued during the 2007-9 financial crisis at a cost of 20.5 billion pounds, leaving taxpayers with a 43 percent stake. Britain's finance ministry began selling its stake in September 2013.
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Lloyds said on Thursday that Britain's finance ministry had reduced its stake to 15.9 percent, from 16.9 percent, in a further step towards its full privatisation which is expected next year.
The bank was rescued during the 2007-9 financial crisis at a cost of 20.5 billion pounds, leaving taxpayers with a 43 percent stake. Britain's finance ministry began selling its stake in September 2013.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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