UK government set to reduce multi-billion pound stake in RBS - reports

UK govt own 70.5% of RBS

Government ministers are initiating a process to reduce its 70.5% stake in the Royal Bank of Scotland, which it bailed out with a £45bn rescue package in 2008.

While precise details regarding any sell-off are unclear, an announcement about a multi-billion pound RBS share sale could come later this week, according to Sky News. An un-named City analyst told the broadcaster that a disposal could target proceeds of more than £3bn by selling around 10% of RBS, resuming a large-scale privatisation programme that has been stalled for three years. Bankers have cautioned any deal would be subject to considerations relating to wider stockmarket conditions and ministers' ability to demonstrate the taxpayer was getting value for money, factors which c...