The Government has confirmed, as previously rumoured, that its stake in Lloyds Banking Group is to be sold to institutions alone. There will not be an offer to individual investors as was formerly indicated would take place.
Chancellor Philip Hammond said "Returning Lloyds to the private sector is in the interests of the bank, taxpayers and the country as a whole" and "That is why exiting our stake in Lloyds in an orderly way and at the best possible price is one ...