U.K. Plans £5B RBS Share Sale

The U.K. government is planning a £5 billion share sale forRoyal Bank of Scotland(RBS),The Telegraphreports. The shares are likely to be offered to institutional investors and sovereign wealth funds from the Middle East and Far East.

The government, which owns an 83% stake in the bank, is expected to sell around a 13% RBS stake. The sale will be rolled out byU.K. Financial Investments, the body set up by the Treasury to look after the government’s stakes in RBS andLloyds Banking Group.

Click here for the story fromThe Telegraph.