UK government sells more Lloyds shares, cuts stake to below 12 pct

September 25, 2015 6:12 AM

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LONDON, Sept 25 Britain's government has reduced its holding in Lloyds Banking Group to below 12 percent, taking the bank closer to full privatisation following a taxpayer bailout in the 2008/09 financial crisis.

UK Financial Investments, which manages the government's stakes in Lloyds and Royal Bank of Scotland, said on Friday it had reduced its holding in Lloyds to 11.98 percent.

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