Cable: RBS share sale may not happen for five years

Business Secretary Vince Cable has warned the government's 81% stake in Royal Bank of Scotland may not be sold off for another five years, arguing a quick sale of shares is unlikely.

Cable (pictured) said it is "unrealistic" to expect the bank to be in private hands by 2018, adding the lender is likely to be broken up before it is re-privatised. Cable said: "I don't think it would be sensible for the government to set a rigid timetable, but given where we start from I think it is pretty unrealistic to think of RBS going back into private ownership this Parliament or probably within five years, speaking to the Sunday Telegraph. He hinted the government may yet opt to split the bank in two, into a good and bad bank, and consequently seek to sell a number of the len...