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Lloyds Banking Group and Royal Bank of Scotland (RBS)
19/07/2009Shares will not be sold until the market confidence in the banking sector has been restored. This will be in a strategy document from the UK Financial Investment (UKFI) UKFI said it could take up to seven years before they can be sold in their entirety. This comes from a sources close to a senior officials involved in managing the shareholdings.
The strategy document, is awaiting the approval of Alistair Darling, the Chancellor will set out potential options for disposing of the bank shareholdings including exchangeable bonds and other capital markets instruments that may be used to place large stock with institutional investors.