London Mayor Calls for RBS to Be Broken Up When Shares Recover
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London Mayor Boris Johnson called for Royal Bank of Scotland Group Plc, Britain’s largest state-owned lender, to be broken up and sold as soon as the share price recovers.
The Edinburgh-based bank today posted a bigger decline in operating profit than analysts estimated as it signaled the government could start selling its 81 percent stake as soon as next year. Johnson suggested putting the bank’s impaired assets into a bad bank, adding to similar calls from lawmakers and the central bank.