Government sells 7.7 per cent stake in RBS at Â£2.1bn loss to taxpayer

By The Newsroom

Published 5th Jun 2018, 09:18 BST

Updated 5th Jun 2018, 09:22 BST

Ross McEwan of RBS Picture by Simon Hulme

The Government has sold a 7.7% stake in Royal Bank of Scotland at a Â£2.1 billion loss to the UK taxpayer.

UK Government Investments (UKGI) confirmed the “successful completion” of the disposal at a placement price of 271p per share.

The sale of around 925 million shares will bring the public holding in RBS down from approximately 70.1% to 62.4%, resulting in proceeds of £2.5 billion.