Britain to Sell £2.0bn of Lloyds Bank Stock to Public
Britain will sell another £2.0 billion of shares in state-rescued Lloyds bank to the public, the government said Monday.
The Treasury will offload Lloyds shares worth $3.0 billion or 2.7 billion euros in spring 2016, and will exit its holding "in the coming months", it said in a statement.
All of the proceeds will be used to pay down the national debt.
The British government had bailed out Lloyds during the financial crisis in 2008 at a cost of some £20 billion, taking out an initial stake of 43 percent.
It has been gradually reducing its stake in the bank in recent months and this now stands at less than 12 percent.
Source: Agence France Presse
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