ADVFN - Advanced Financial Network.
HOME» NYSE » L » LYG Stock Price » LYG Stock News

Lloyds Tsb Share News

 Lloyds Banking Grp. Stock Price
LYG Stock Price
 Lloyds Banking Grp. Stock Chart
LYG Stock Chart
 Lloyds Banking Grp. Stock News
LYG Stock News
 Lloyds Banking Grp. Company Information
LYG Company Information
 Lloyds Banking Grp. Stock Trades
LYG Stock Trades

Experts Warn That Sale of RBS Stake Could Be Drawn Out Affair

By Max Colchester Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Experts quizzed by the U.K. government's Treasury Select Committee warned that it could take years for Royal Bank of Scotland Group PLC (RBS) to be fully privatized, as the government tries to balance getting a fair price for its stake while also enticing a suitable buyer. During a meeting Tuesday, investors, bankers and analysts were asked by the committee how best to proceed with the eventual sale of its 82% stake in RBS. All replied that it was in the bank's best interest that the government reduce its stake to allow the lender to be run along private lines, without political interference. All believed that the sale would also take quite a long time to happen. A "good strategy is to start disposal at the lowest price and build it up over time," said Adam Young, co-head of equity advisory at Rothschild, adding that it may take up to five years to privatize RBS. Manus Costello, a managing partner at Autonomous, said that a private shareholder could encourage the bank to be run more efficiently and that it was worth the government taking a loss on the sale of its first tranche of shares. He warned against plans to break up RBS as "value destructive." One option floated was to sell shares to the public, much like during the privatization of British Telecom, as part of the process of putting the bank back on the market. The bank's share will be sold in several tranches, one of which could theoretically be to the public, said Young. However, it is rare to see transaction of more than GBP5 billion a tranche, said Young, adding, "That implies a lot of tranches." Robert Talbut of the Association of British Insurers warned that it was unlikely that the government would see a profit from its stake in the foreseeable future. In 2008, the U.K. government pumped GBP45.5 billion into RBS to bailout the bank during the height of the financial crisis. Analysts have since warned that the government's stake is a handicap for the bank. Over recent months, RBS has been dragged into political debates about executive pay and lending to small businesses. In March, Jim O'Neil, head of market investments at UKFI, which manages the government's stake in RBS, told a U.K. Treasury committee that he would consider advising the chancellor to sell the shares below the 50.2 pence price the U.K. treasury bought them at. People familiar with the matter said that while the U.K. government is talking to several potential investors, there was no fixed timetable for the sale. At midday, RBS shares were at 21.8 pence, giving it a market value of about GBP13.1 billion. - By Max Colchester, Dow Jones Newswires; +44 (0) 207 842 9295, max.colchester@wsj.com

Stock News for Lloyds Tsb (LYG)
DateTimeHeadline
09/29/201412:51:49LONDON MARKETS: Mining Stocks Slump In London On China Worries
09/26/201412:20:11LONDON MARKETS: Bank Stocks Lift FTSE 100; Sports Direct Drops
09/26/201412:08:08EUROPE MARKETS: Allianz Slides; Philips Rises: Europe's Big Stock...
09/25/201413:04:49Lloyds Banking to Sell 57.5 Million Ordinary Shares in TSB
09/19/201412:25:49EUROPE MARKETS: Stoxx 600 Closes At 2-week High After Scotland...
09/19/201412:09:09LONDON MARKETS: London Stocks Rise As Scotland Votes To Stay...
09/19/201410:02:14EUROPE MARKETS: Stoxx 600 Heads For 3-month High After Scotland...
09/19/201404:30:09Pound Rises After Scotland Rejects Independence
09/19/201404:20:07British Pound Rises After Scotland Rejects Independence -- Update
09/19/201403:42:04LONDON MARKETS: FTSE 100 Poised To Rally As Scotland Votes To...
09/17/201419:45:05LONDON MARKETS: FTSE Wavers With Eyes On Scotland, Labor Data
09/17/201417:09:44LONDON MARKETS: FTSE Inches Higher With Eyes On Scotland, Labor...
09/17/201405:03:18LONDON MARKETS: Miners Lift FTSE 100; Eyes On Scotland, Central...
09/16/201400:42:57U.K. Companies Donate Little to Camps in Scottish Independence...
09/12/201415:21:16LONDON MARKETS: FTSE 100 Edges Up As Key Poll Points To 'no...
09/12/201406:43:12LONDON MARKETS: U.K. Stocks Rise After Poll Points To 'no' In...
09/11/201412:21:56EUROPE MARKETS: Russian Stocks Slump Most In Europe After Sanction...
09/11/201412:11:35EUROPE MARKETS: RBS, Lloyds Climb; Sanofi Slips: Europe's Big...
09/11/201412:11:10LONDON MARKETS: FTSE Closes At Lowest Level Since Late August
09/11/201408:27:26EUROPE MARKETS: Stoxx Europe 600 On Track For Fifth Straight...

Lloyds Tsb and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad