LONDON May 11 The British government's stake in
Lloyds Banking Group is down to 0.25 percent, the
bank's chairman Norman Blackwell said on Thursday, putting the
lender on track to be in full private ownership within 'days'.
UK Financial Investments Limited (UKFI), which manages the
government's stake, resumed share sales in October, having
halted them for almost a year due to market turbulence.
"We are just days away from full private ownership," the
lender's chief executive Antonio Horta-Osorio told shareholders
at the lender's annual general meeting in Edinburgh, Scotland.
The government spent more than 136.6 billion pounds
($176.50 billion)rescuing some of Britain's biggest high street
lenders at the height of the financial crisis, including Royal
Bank of Scotland and Lloyds, but has so far only managed
to recoup half of that money.
($1 = 0.7739 pounds)
(Reporting By Andrew MacAskill, writing by Lawrence White;
Editing by Rachel Armstrong)