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Britain set to sell last of Lloyds stake in symbolic step

Reuters  |  LONDON 

By Andrew MacAskill and Lawrence WhiteLONDON (Reuters) - Britain is set to sell its remaining stake in Lloyds Banking Group on Wednesday, making the lender the first to re-emerge from British state ownership in a symbolic step for the country's recovering banking sector.The sale will draw a line under one of the largest bailouts from the 2007-2009 global financial crisis. This involved Lloyds, Britain's biggest retail lender, being rescued after an ill-fated government-brokered takeover of rival HBOS.The takeover of HBOS in 2008 caused Lloyds to suffer more than 25 billion pounds in losses ...

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First Published: Tue, May 16 2017. 22:58 IST
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