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UK starts RBS sell-off with $3.3 billion stake sale

© Reuters. The logo of Royal Bank of Scotland is seen at office building in Zurich

LONDON (Reuters) - Britain has sold a 2.1 billion pound ($3.3 billion) stake in Royal Bank of Scotland (L:RBS) to kick off the disposal of its holding seven years after bailing out the bank.

Finance Minister George Osborne on Tuesday hailed the sale as "an important first step in returning the bank to private ownership" and said it was right to start selling the stake at a loss to the price...


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