UK Government Speeds Up Plans to Dispose of NatWest Stake
- UK’s marketing campaign for retail sale could come in June
- Plans could mean UK’s stake will fall well below 10% this year
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The UK government is stepping up preparations to sell shares in NatWest Group Plc amid growing hopes it will be able to cut the taxpayer-owned stake to a negligible amount by the end of the year, according to several people familiar with the matter.
The government’s plans to sell shares to the public and to institutional investors as well as the bank buying back its own stock from the UK could mean its ownership of NatWest will fall well below 10% this year, the people said, asking not to be identified discussing non-public information. The wind down would also be helped by the government’s accelerated sale of shares on the open market.