08.07.2013 - Foreign wealth funds sound out Treasury on Lloyds deal
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 governmentís 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 Britainís bloated national debt...............................................Full Article: Source
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