Osborne bid to sell RBS/Lloyds stakes hit by banking probe - papers

Scott Sinclair
clock

George Osborne's hopes of a "Tell Sid" style privatisation of RBS and Lloyds Banking Group have been dashed by the government's pledge to launch a year-long investigation into splitting up the banks.

Senior RBS executives have told the City that there is little chance of a quick sale of the bank's shares because of the commission the chancellor is setting up and his promise to launch a competition review of the banking sector, according to the Guardian. Bruce van Saun, finance director at RBS, has conceded to City analysts that a sale of any stake will be pushed back by the investigations. FULL STORY...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Industry

Trustpilot