Print Edition - 2018-06-06  |  Money Digest

Britain banks £2.5bn for slice of RBS

LONDON

Jun 6, 2018-

Britain’s government on Tuesday said it had sold a small chunk of state-rescued Royal Bank of Scotland for more than £2.5 billion ($3.3 billion, 2.8 billion euros), albeit at a loss. Britain on Monday resumed privatisation of the Royal Bank of Scotland, which at the height of the global financial crisis a decade ago underwent the world’s biggest bailout by taxpayers. The Conservative government headed by Prime Minister Theresa May has sold a 7.7-percent stake in RBS, leaving it still with a majority holding of 62.4 percent, much of which it plans to offload through to 2023.  (AFP)

Published: 06-06-2018 08:03

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