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Business News

Treasury to offload up to 15% of state-backed NatWest over next 12 months

today22/07/2021

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The Treasury is to sell up to 15% of NatWest in a trading plan over the next 12 months as it further reduces its stake in the bank.

NatWest, previously called Royal Bank of Scotland, was bailed out by the government in a £45.5bn rescue deal during the financial crisis more than a decade ago and remains 54.7% owned by the taxpayer.

The government said that under the trading plan, to commence on 12 August, shares “will only be sold at a price that represents value for money for taxpayers”.

 Sky News

© Sky News 2021

Written by: Rother Radio News


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today22/07/2021