Britain seeking quick sale of RBS: report
RBS is 80% owned by British govt, which threw a $70 bn lifeline of public money in 2008 in the world's biggest bank bailout
 "Britain seeking quick sale of RBS: report")
Britain is looking to sell the Royal Bank of Scotland as quickly as possible, Chancellor George Osborne has told the Financial Times.
Osborne told the newspaper yesterday he hoped to sell the bank "as quickly as we can get rid of it" after the May general election, and that the public "want to see they get their money back" but that it could take years.
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RBS announced in February it would hugely reduce its investment banking operations worldwide, and Osborne told the Financial Times he regretted not imposing a radical restructuring on the bank earlier.
Osborne told the newspaper yesterday he hoped to sell the bank "as quickly as we can get rid of it" after the May general election, and that the public "want to see they get their money back" but that it could take years.
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Despite major restructuring and thousands of job cuts the bank has since reported losses of almost 50 billion pounds.
RBS announced in February it would hugely reduce its investment banking operations worldwide, and Osborne told the Financial Times he regretted not imposing a radical restructuring on the bank earlier.