UK gears up for sale of Lloyds stake
Prime Minister David Cameron is keen to show that Britain’s part-nationalised lenders are on the mend, and a profitable sale of part of the state’s 39% stake in Lloyds would allow him to claim at least partial success.
The government could sell a tranche of about £5bn (€5.8bn) — or a quarter of its stake — to institutional investors, such as pension and hedge funds, in the next week, sources said.