Investors to snap up £3bn of RBS shares with the taxpayer set to lose billions of pounds on the sale


City & Finance Reporter for the Daily Mail

Ministers are preparing to sell a £3bn stake in the Royal Bank of Scotland

Ministers are preparing to sell a £3bn stake in the Royal Bank of Scotland

Ministers are preparing to sell a £3bn stake in the Royal Bank of Scotland

Ministers are preparing to sell a £3billion stake in the Royal Bank of Scotland this week, putting it on the final path to privatisation.

A sale would cut the taxpayer holding to 60 per cent of the bank, which the Government bailed out in the financial crisis with a £45.5billion lifeline.

If it happens, the final hurdle for the return of all shares to private ownership will be in sight.

That process could be delayed further if it is not considered that the taxpayer is getting good value for money.

The Government is set to lose billions of pounds on the sale.

RBS shares have plunged to 290p since the state intervened and paid 502p per share back in 2008.

A Treasury spokesman said: ‘We don’t comment on market speculation.’

RBS declined to comment.

 

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