The UK government is to sell ￡2bn of shares in
Royal Bank of Scotland, marking the start of the country’s biggest privatisation and a milestone in its recovery from the global financial crisis.
An initial tranche of shares representing a 5.2 per cent per cent stake in the state-backed bank was placed with institutional investors last night as the government begins the process of selling its 78 per cent stake, which is worth ￡32bn at the current share price.
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