BRITAIN'S BANK EXIT PLAN
BRITAIN'S BANK EXIT PLAN
The entity managing the British government's stakes in nationalized banks is warning that exiting from those investments could take years. The agency, called UK Financial Investments, also says in its annual report that the government has logged paper losses of nearly $17 billion on its 70% stake in Royal Bank of Scotland and its 43% interest in Lloyds Banking Group. If strategic buyers can't be found, the government's only option would be to gradually unload shares. (The Daily Telegraph)
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