Jun
10
Britain Expects Initial Losses as It Prepares to Sell Its R.B.S. Stake
By
George Osborne, right, Britain’s chancellor of the Exchequer, with Alan Yarrow, the lord mayor of London, at a banquet for the financial industry. CreditNeil Hall/Reuters
LONDON — The British government is ready to exit the banking business, even if it means that it will record a loss on some of its holdings.
George Osborne, the chancellor of the Exchequer, said in a speech here on Wednesday night that the government would begin to sell down the 80 percent stake that it holds in theRoyal Bank of Scotland.
The speech was at the Lord Mayor’s annual banquet for the financial industry at the Mansion House in the City of London…
Britain Expects Initial Losses as It Prepares to Sell Its R.B.S. Stake
