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

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...