UK government could sell off Lloyds bank $38.5 billion stake in 2014: Telegraph
LONDON (REUTERS) - The British government could sell off all of its 18.4 billion pound (S$38.5 billion) stake in the Lloyds banking group in 2014, the Daily Telegraph reported, citing unnamed sources.
The newspaper reported that the entire government holding could be sold off in the next 12 months in a combination of retail and institutional offerings.
"Post-results is when a further institutional offering would make most sense. After that, the thinking is an autumn sale, combining an institutional and a retail segment, is a realistic prospect," a source was quoted as saying by the newspaper.
The UK government has already sold off 6 percent of its stake in the partly nationalised bank, raising over 3.2 billion pounds in September this year.