RBS to sell stake in credit card firm

Royal Bank of Scotland today sold a majority stake in the UK's biggest credit card payment firm.

The deal to sell 80.01% of its WorldPay business to a team led by private equity giants Advent International and Bain Capital values the division at £2.025bn (2.43bn) and will result in a gain of around £850m (1.02bn)to RBS, boosting its balance sheet.