RBS shareholders approve £20bn bail-out plan

Shareholders in Royal Bank of Scotland today approved a £20bn (€23.5bn) bail-out plan which could put nearly 60% of the company in public hands.

At a general meeting of the RBS Group in Edinburgh, shareholders voted 99.28% in favour of the proposal, which will see the bank offer £15bn (€17.6bn) in new ordinary shares, with the Government promising to buy up any remaining.