By Ian Walker
LONDON--The U.K. government has reduced its stake in Lloyds
Banking Group PLC by a further 1 percentage point to 20.95%, the
latest in a series of small sales of shares in the bailed-out
bank.
In a London Stock Exchange shareholding notification Lloyds said
Thursday that The Commissioners of Her Majesty's Treasury now owns
14.96 billion shares, or 20.95% of the bank's voting rights. It
previously held 15.7 billion shares.
No price was disclosed for the share sale, which was conducted
on Thursday.
Lloyds was bailed out by U.K. taxpayers during the financial
crisis, with the government taking a 39% stake in the U.K.'s
biggest retail bank. The government started selling its shares in
Lloyds in late 2013.
After initially selling chunks of Lloyds direct to investors
through accelerated placements, the government in December mandated
Morgan Stanley to gradually sell stock up to the end of June.
Write to Ian Walker at ian.walker@wsj.com