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Lloyds returned to private hands as UK government sells stake

Staff Writer |
The UK government has sold off its last few shares in Lloyds Banking Group, meaning the bank has been fully returned to private ownership.

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In a regulatory news update on Wednesday, Lloyds revealed that the government had sold the last 638,437,059 shares on the previous day.

This came almost a decade after the bank was bailed out in 2009 with a £20.3bn purchase of a 43% shareholding, and four years after the Treasury first began to sell down its stake.

Last month, Chancellor Philip Hammond confirmed the Treasury had recouped its initial stake in sales and dividends, but not the full cost of the bailout.

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