Deals
China-Fueled Stock Rout May Delay Osborne’s Lloyds Exit Program
This article is for subscribers only.
The global stock sell-off may force Chancellor of the Exchequer George Osborne to pause plans to sell the British government’s stake in Lloyds Banking Group Plc.
On Monday, the shares dipped below the minimum price at which the Treasury has said it will sell its remaining stock to investors. Speaking after the government announced it had sold 550 million pounds ($865 million) of shares in the bank, Osborne said he plans to sell the U.K.’s remaining 13 percent stake in Lloyds within 12 months.