20.09.2013 - Jim Armitage: RBS looks set to spoil Osborne's claim that he has fixed banking mess
Temasek is clearly a beast with some appetite for the UK. Little surprise, then, that the Singapore sovereign wealth fund has become George Osborne's best new buddy. Not only did it take up the biggest slice of Lloyds' placing this week, but it appears the Treasury/UK Financial Investments has high hopes it will take a bigger bite with the next round of the sales process, probably next March. This all plays well for the Chancellor, who can boast to the public that one of the world's biggest sovereign wealth funds is putting billions of pounds in long-term bets on the future of the British economy (hence the Treasury leaks about Temasek snapping up about 0.5 per cent of Lloyds in this week's placing.)..............................................Full Article: Source
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