Britain to Extend Trading Plan to Reduce Its Stake in Lloyds Banking Group
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The British government said on Monday it had reduced its stake in Lloyds Banking Group to just below 19 percent through additional share sales. CreditCarl Court/Getty Images
LONDON — The British government said on Monday it would extend a trading plan to sell down its stake in the Lloyds Banking Group and said it would offer some of its holdings to retail investors in the next year.
The government also said it had reduced its stake in Lloyds to just below 19 percent through additional share sales as part of the trading plan that will now run through December. The trading plan, which is being managed by Morgan Stanley, had been set to expire this month.
The move continues the government’s efforts to end its ownership of some of the nation’s largest banks. The British government took significant stakes in Lloyds and the Royal Bank of Scotland as part of a bailout during the financial crisis, but it is eager to terminate its holdings in the two lenders. It still owns about 80 percent of R.B.S….
Britain to Extend Trading Plan to Reduce Its Stake in Lloyds Banking Group
