Barclays Backs U.K. Plan to Sell Lloyds, RBS, Telegraph Reports

Barclays Plc (BARC) supports a U.K. government plan to sell its shares in Lloyds Banking Group Plc (LLOY) and Royal Bank of Scotland Plc, the Sunday Telegraph reported, without saying where it got the information.

Jim Renwick, head of Barclays’ U.K. equity capital markets and broking division, has held talks on the proposal with U.K. Financial Investments, the manager of the government’s stakes in the two lenders, according to the Telegraph. Renwick is also coordinating with Portman Capital Partners, which originally devised the plan.

Barclays and Portman Capital declined to comment, the Telegraph said.

To contact the reporter on this story: Grant Smith in London at

To contact the editor responsible for this story: Stephen Voss on

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.