Britain to sell extra 7.5% of Lloyds bank

LONDON (AFP) - The British government revealed Tuesday that it will seek to sell an extra 7.5 per cent stake in bailed-out Lloyds Banking Group, after offloading a 6 per cent chunk late last year.

UK Financial Investments (UKFI), which manages the state's bank holdings, said in a statement that it will look to sell another 5.35 billion shares to institutional investors, taking the government's total LBG holding from 32.7 per cent to 25 per cent.