The Britain government has sold off a further 1% chunk in taxpayer-backed Lloyds, reducing its overall stake to less than 10%, meaning that the government has now raised £16bn from the sale; all proceeds are used to reduce the national debt. This move comes just months before a final sell-off aimed at returning the bank to full private ownership.
The UK government has sold off a further 1% chunk in taxpayer-backed Lloyds, reducing its overall stake to less than 10%, meaning that the government has now raised £16bn from the sale; all proceeds are used to reduce the national debt. This move comes just months before a final sell-off aimed at returning the bank to full private ownership.