(MENAFN- Saudi Press Agency) A share sale over the next six months will cut the
British government's stake in Lloyds Banking Group from 40 per cent
to 25 per cent, dpa cited officials as saying on Wednesday.
The government spent 20 billion pounds (31 billion US dollars)
bailing out Lloyds during the global financial crisis.
This is the third tranche of shares to go on sale since
the government took its holding to 43 per cent in 2009.
Chancellor George Osborne promised taxpayers they would get more for
the shares than they paid for them.
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