U.K. Delays Sale of Shares in Lloyds on Market Turmoil
January 28 2016 - 7:29AM
Dow Jones News
By Jason Douglas
LONDON--The U.K. government said Thursday it has postponed a
planned sale of shares in partially state-owned lender Lloyds
Banking Group PLC, citing financial-market turbulence.
Treasury chief George Osborne confirmed the news in a message on
his official Twitter account , saying the planned sale has been
shelved until financial markets "have calmed down." The delay was
first reported by the British Broadcasting Corp.
The news is the latest sign of nervousness over stock markets
following weeks of market turmoil triggered by fears over the
health of the global economy.
The British government began selling down its stake in Lloyds
last year and currently owns less than 10% of the lender, which was
bailed out by taxpayers in 2008. Officials were planning on selling
GBP2 billion ($2.8 billion) of shares to the public this
spring.
Write to Jason Douglas at jason.douglas@wsj.com
(END) Dow Jones Newswires
January 28, 2016 07:14 ET (12:14 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Lloyds Banking (NYSE:LYG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lloyds Banking (NYSE:LYG)
Historical Stock Chart
From Apr 2023 to Apr 2024
