Britain Sells More of Lloyds Bank before Election
Britain's government has sold another tranche of state-rescued Lloyds Banking Group as it seeks to further cut the deficit in the run-up to next month's general election.
The state cut its stake to just below 21 percent by selling another 1.0 percent of the bank's shares.
“Today’s announcement shows the further progress made in returning Lloyds Banking Group to full private ownership and enabling the taxpayer to get their money back," said a bank spokesman.
Britain bailed out Lloyds with £20 billion (28 billion euros, $30 billion) of taxpayers' cash at the height of the 2008 global financial crisis.
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