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UK sells 5.4% RBS stake at £1b loss, sparking criticism of Osborne

Sale proceeds of £2.08b will be used to repay the UK's national debt, which is 89% of GDP
Wednesday, August 5, 2015 - 05:50
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The government bailed out RBS in 2008 and 2009 by buying its shares for £45.5 billion to prevent a collapse of the ailing bank.

London

THE UK Treasury has sold 630 million shares or a 5.4 per cent holding in The Royal Bank of Scotland (RBS) at 330 pence a share - some 170 pence or 34 per cent less than the 502 pence the government paid when it bailed out the bank.

The loss came to £1.07 billion (S$2.3

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