UK government could sell off Lloyds bank stake in 2014 - Telegraph

Mon Dec 30, 2013 2:24am GMT

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009. REUTERS/Stefan Wermuth

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009.

Credit: Reuters/Stefan Wermuth

Related Topics



(Reuters) - The British government could sell off all of its 18.4 billion pound 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 by the newspaper.

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

The government currently holds around 33 percent 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.

Shares in Lloyds closed at 78.84 pence on the London Stock Exchange on Friday, valuing the group at 56.5 billion pounds.

(Reporting by Tasim Zahid in Bangalore; Editing by Eric Walsh)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see
Comments (1)
meolive wrote:
This shouldn’t surprise anyone. This government is haemorrhaging money, so just like Northern Rock and the Post Office, it’s a fire sale and everything must go!

Dec 29, 2013 3:09am GMT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.