Government's sale
of Lloyds Banking Group has begun, with big investors being offered 6% of the
bank.
Based on Monday's
closing share price, that stake would be worth £3.3bn and the deal will cut the
government's stake in Lloyds to 32.7%.
Back in June, the
Chancellor of the Exchequer, George Osborne, announced that the government was
preparing to sell its stake.
He said that the
government wanted to get a good deal for taxpayers.
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