British government sold shares from Lloyds Banking Group

Noam Stiekema

The British government sold shares from Lloyds Banking Group for nearly 586 million GBP, which reduces its stake below 21%. In March, the government has sold nearly 742 million shares of the largest mortgage lender in the country. The value of the transaction is formed by share price of Lloyds closing of the London Stock […]

Lloyds Banking Group

Lloyds Banking GroupThe British government sold shares from Lloyds Banking Group for nearly 586 million GBP, which reduces its stake below 21%. In March, the government has sold nearly 742 million shares of the largest mortgage lender in the country. The value of the transaction is formed by share price of Lloyds closing of the London Stock Exchange on Thursday. The Ministry of Finance of the United Kingdom not disclose the purchase price.

The Conservative Party of Great Britain promised to sell more shares in Lloyds Banking Group in the organized mass privatization, if the party retain power after the parliamentary elections on May 7th.

On Sunday, Prime Minister David Cameron said he wanted to restore the 20 billion GBP spent to rescue the bank. So far have sold shares for more than 2 billion GBP of Lloyds, or nearly 4% of its capital.

“Today’s announcement shows progress on the return of full private ownership of the Lloyds Banking Group and taxpayers get their money back”, reads an opinion of the bank.

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