LONDON: State-backed Royal Bank of Scotland yesterday pushed for the British government to start selling its 82 percent stake as early as next year even though it could mean a loss for taxpayers.
Chairman Philip Hampton said the aim was to have a business in strong enough shape to start preparing a prospectus with the government for a sale from the middle of 2014. “It could be earlier, that’s a matter for the government,” Hampton said in an interview on the bank’s website.
Britain pumped £45.5bn ($71bn) into RBS during the 2008 financial crisis, leaving the government with a controlling stake.
Reuters
