Orthodox Osborne plays safe on £17bn Lloyds privatisation

The UK Chancellor of the Exchequer this week signalled the start of preparations for a £5bn or larger institutional placement of Lloyds Banking Group shares which could come later this year or early in 2014. A vanilla deal that takes the government to within one shot of disposing of its 39% stake, which could be worth £17bn, is possible at the breakeven price, say ECM bankers.

  • By Andrew Griffin
  • 20 Jun 2013

Banks are likely to be asked to participate in an appointment process soon so that an adviser can be in place in time for a trade to be ready after the summer break. 

“We are actively considering options for share sales in Lloyds,” said George Osborne in his ...

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