LONDON Dec 13 Britain cut its stake in Lloyds
Banking Group to below 7 percent on Tuesday as it
continued with a fresh attempt to return the lender to full
private ownership over the next year.
Lloyds said in a statement the government has reduced its
stake in the bank by about 1 percentage point to 6.93 percent.
UK Financial Investments Limited (UKFI), which manages the
government's stake in the bailed-out bank, resumed
share sales in October, having halted them almost a year ago
because of market turbulence.
Lloyds was rescued with a 20.5 billion pound taxpayer-funded
bailout during the 2007-09 financial crisis, leaving the state
holding 43 percent.
(Reporting by Huw Jones; Editing by Rachel Armstrong)