August 31, 2014

Lloyds share price tumbles as government sells stake

Lloyds share price tumbled by 4.9pc on Wednesday as the UK government sold £4.2bn worth of shares in the bank. The UK government has now reduced its stake to below 25pc and is expected to sell its total stake in Lloyds next year.

George Osborne claimed that the sale by the government represented ‘good value’ and that the proceeds would be used to bring down national debt.

 

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