UK government to sell-off more of NatWest stake
The UK government is set to sell more of its stake in NatWest over the next year.
Over the next 12 months, the government plans to sell 15 per cent of its stake in the bank formerly known as Royal Bank of Scotland through a share sale.
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In a statement published today, the Treasury said it has instructed Morgan Stanley to sell the stake between 12 August 2021 and 11 August 2022.
The Treasury said the “shares will only be sold at a price that represents value for money for taxpayers.”
The government bailed out RBS during the financial crisis and has been gradually selling off its holdings in the bank over several years
It currently owns 54.7 per cent in NatWest after two share sales this year.
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Shares in the bank were down 0.83 per cent in the morning.