Lloyds Bank share sell-off returns further £500m to Treasury
by Jennifer Rankin from on (#4JGB)
Latest shares sell-off cuts government stake in bank to 23% with nearly half of 20bn bailout now recouped
The government has sold a further tranche of shares in the bailed-out Lloyds Banking Group, reducing the taxpayer's stake to less than 23% and returning 500m to the public purse.
UK Financial Investments, the body that controls the taxpayer stake in the nation's bailed-out banks, has promised to drip-feed Lloyds shares on to the market in the runup to the general election, with the aim of cutting its stake to 20%.
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