U.K. Cuts Lloyds Stake Below 12% Even as Stock Price Dropped
This article is for subscribers only.
The British government sold another 1 percent stake in Lloyds Banking Group Plc in the past month, pushing its holding below 12 percent as the bank’s shares hovered near the state’s minimum disposal price.
The government owned about 8.55 billion shares as of Thursday, down from 9.28 billion shares in its last filing on Aug. 24, the bank said in a statement Friday.