RBS Stake Sale by U.K. Government to Begin in Coming Months

Chancellor of the Exchequer George Osborne said he’ll start returning Royal Bank of Scotland Group Plc to private ownership in the coming months, even though it may cause a loss for U.K. taxpayers.

Shares will be sold to institutional investors first, the chancellor announced in a speech at the annual Mansion House dinner in London’s financial district Wednesday. Disposing of RBS in its entirety “will take some years,” he said, though there’s “no reason” why a retail offering can’t be held at a later date. The Treasury published a report by Rothschild that advised to begin selling the shares to gain maximum value.