Taxpayers to take 57.9% stake in RBS

British taxpayers will take a 57.9% stake in Royal Bank of Scotland after investors snubbed its £15bn (€17.9bn) share offer, the bank said today.

Taxpayers to take 57.9% stake in RBS
Fri, 28 Nov, 2008 - 08:02

British taxpayers will take a 57.9% stake in Royal Bank of Scotland after investors snubbed its £15bn (€17.9bn) share offer, the bank said today.

The bank’s existing shareholders refused to buy the new stock because RBS’s shares were trading below the 65.5p offer price announced in October.

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