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London to start selling down its 80% stake in RBS: Osborne

It is likely to record a loss on some of its holdings - at least initially

Mr Osborne speaking at the Lord Mayor's Dinner to the Bankers and Merchants of the City of London. He has been eager to reduce the government's holdings in RBS, Lloyds and other financial institutions that were bailed out during the financial crisis.


THE British government is ready to exit the banking business, even if it means that it will record a loss on some of its holdings.

George Osborne, the Chancellor of the Exchequer, said in a speech here on Wednesday night that the government would begin to sell down the 80