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Sovereign Wealth Funds Briefing - Categorized | Market

Foreign wealth funds sound out Treasury on Lloyds deal

Posted on 08 July 2013

Sovereign wealth funds and private equity groups have sounded out the Treasury about buying a 10 per cent stake in Lloyds Banking Group. The move follows Chancellor George Osborne giving a strong hint in his Mansion House speech recently that a sale of the government’s 39 per cent holding was on the cards before the 2015 general election. There was speculation last night that a sale of shares in Lloyds could take place next month.
It is understood Osborne has an open mind on a part-sale to a sovereign wealth fund or private equity, which analysts say could raise about £5 billion for the government as it seeks to cut Britain’s bloated national debt………………………………………..Full Article: Source


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