Govt To Sell Off £4.2bn In Lloyds Bank Shares

Written By Unknown on Rabu, 26 Maret 2014 | 00.26

Taxpayers are to be left with a 25% stake in Lloyds Banking Group as the Government announces plans to sell £4.2bn in shares.

The taxpayer currently owns 33% of Lloyds but the government is continuing with plans to fully return the lender to the private sector.

Some 5.4bn shares are expected to be sold later this year - raising about £4.2bn based on Tuesday's closing share price.

A Treasury spokesman said: "The Government set out its objectives for its shareholdings in the banks in the Chancellor's annual Mansion House address last June - getting the best value for the taxpayer, maximising support for the economy and restoring private ownership.

"And, as set out in that address, the Government will only conclude a sale if these objectives are met.

"Building a stronger banking system is a core part of the Government's long-term economic plan to deliver greater economic security."

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