U.K. Government Cuts NatWest Shareholding to 37.97%
December 11 2023 - 8:52AM
Dow Jones News
By Ian Walker
NatWest Group said that the U.K. Government has reduced its
shareholding to 37.97% from 38.53%.
The British lender said in a regulatory filing on Monday that
His Majesty's Treasury is now interested in 13.37 billion
shares.
The U.K.'s stake in the lender resulted from the government's
2008 bailout of Royal Bank of Scotland, which rebranded as NatWest
in 2020. The government spent 45.5 billion pounds ($57.10 billion)
of taxpayer money on the bailout and at one point owned 84% of the
bank.
RBS bought NatWest in 2000.
U.K. finance chief Jeremy Hunt said last month that the
government will explore selling down its stake in British lender
NatWest through a retail share offer over the coming year.
Shares at 1314 GMT were down 2.20 pence, or 1.0%, at 218.30
pence.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
December 11, 2023 08:37 ET (13:37 GMT)
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