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Britain cuts Lloyds banking group stake below 14%

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Britain has reduced its stake in Lloyds Banking Group to below 14 per cent.

[LONDON] Britain has reduced its stake in Lloyds Banking Group to below 14 per cent, the finance ministry said in a stock market disclosure on Monday.

The taxpayer's stake has fallen to 13.99 per cent, the ministry added.

Lloyds was rescued at a cost of 20.5 billion pounds (S$44.1 billion) to taxpayers during the 2007-9 financial crisis.

REUTERS

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