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UK government no longer biggest Lloyds bank investor

The British government is no longer the biggest shareholder in state-rescued Lloyds bank, after selling another tranche of shares, the two sides announced Monday.

The government has since gradually sold down its original 43-percent stake in the bank and the Treasury Monday said it had recouped more than £18.0 billion ($22.1 billion, 21 billion euros) from share sales.

Last month, Lloyds bought Bank of America’s U.K. credit card division MBNA for £1.9 billion in the first acquisition since its government bailout.






Article source: http://www.dailystar.com.lb//Business/International/2017/Jan-09/388505-uk-government-no-longer-biggest-lloyds-bank-investor.ashx