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
07/18/201418:59:07EUROPE MARKETS: European Stocks Slip; Shire Leads FTSE Gains
07/18/201418:50:41EUROPE MARKETS: European Stocks Fall; RBS, Volvo Among Decliners
07/18/201406:57:07U.K. to Probe Retail Banking Sector
06/23/201412:33:15LONDON MARKETS: U.K. Housing Stocks Sag On Mortgage Concerns
06/23/201409:06:50LONDON MARKETS: U.K. Housing Stocks Sag On Mortgage-rule Concerns
06/20/201412:53:07LONDON MARKETS: Shire Boosts FTSE 100 To Fourth Day In Black
06/20/201412:25:15EUROPE MARKETS: European Stocks Lose Steam After Consumer Data
06/20/201408:03:16EUROPE MARKETS: European Stocks On Track For Weekly Gain
06/17/201409:39:35Lloyds Bank Said to Raise Minimum Price for TSB Listing-Reuters
06/13/201412:30:34LONDON MARKETS: U.K. Stocks Slide On Rate-hike Talk, Iraq Worries
06/13/201406:04:08LONDON MARKETS: U.K. Housing Stocks Fall On Rate-hike, Mortgage...
06/12/201413:06:07Caixabank Considers Making Offer for Barclays in Spain--Update
06/09/201413:31:00LONDON MARKETS: FTSE 100 Up As Miners Advance; Lloyds Shares...
06/09/201406:15:53LONDON MARKETS: FTSE 100 Up As Miners Advance; Lloyds Shares...
06/09/201405:04:08EUROPE MARKETS: European Stocks Rise, Look For New Multiyear...
06/08/201422:00:15Poor IPO Appetite Forces Lloyds Banking to Cut TSB's Valuation...
06/05/201415:01:13ING Moves Ahead With NN Unit IPO -- Update
06/05/201403:32:15Lloyds Banking Sells UK Commercial Real Estate Loans Portfolio
06/04/201413:59:00Lloyds Banking Group PLC Tender Offer Results
05/27/201414:56:25LONDON MARKETS: U.K. Stocks Up As InterContinental Jumps Amid...

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