Shares in taxpayer-backed Lloyds Banking Group soared to a five-year high yesterday amid speculation the government is poised to start selling its stake.
A source close to the situation said it was ‘entirely possible' that the share sale could begin this month - and possibly within the next seven to ten days, the Daily Mail reports. It is thought George Osborne is keen to start offloading the government's 39% stake before the Conservative's party conference begins on 29 September. Lloyds shares jumped 1.22p to 78p - a closing price not seen since late 2008 when the global banking system was reeling following the collapse of Lehman Brothers. The government is understood to be considering the sale of around a quarter of its holding - ...
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