UK to sell more shares in Lloyds, recoup more taxpayer cash

London

BRITAIN will sell more shares in Lloyds Banking Group over the next six months, moving the bailed-out bank another step towards a full return to private ownership and recouping more taxpayer cash.

Britain's finance ministry and UK Financial Investments (UKFI), which manages the Lloyds' stake, said on Wednesday the shares would be sold by Morgan Stanley through a "pre-arranged trading plan". "It is another step in reducing our national debt and in getting taxpayers' money back," Britain's Finance Minister George Osborne said.