UK government to set up bank chains
Saturday, October 31st, 2009Extensive sales of Lloyds and Royal Bank of Scotland assets are expected, under EU pressure for scaling back of state-aided banks, the BBC understands.
The government, which holds a 70% stake in RBS and a 43% stake in Lloyds after last October’s bailouts, hopes to announce the sell-off plans on Tuesday.
EU Competition Commissioner Neelie Kroes [...]