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| Version 2 | Version 3 |
|---|---|
| More Lloyds shares to be sold by the government | More Lloyds shares to be sold by the government |
| (35 minutes later) | |
| More shares in Lloyds Banking Group are to be sold by the government, in a move which could raise up to £3bn. | More shares in Lloyds Banking Group are to be sold by the government, in a move which could raise up to £3bn. |
| At present, the UK bank is 25%-owned by the taxpayer, but after the latest sale, this stake could fall to 20%. | At present, the UK bank is 25%-owned by the taxpayer, but after the latest sale, this stake could fall to 20%. |
| A trading plan has been launched to allow the shares to be sold gradually "in an orderly and measured way", the government said. | A trading plan has been launched to allow the shares to be sold gradually "in an orderly and measured way", the government said. |
| Previous sales of Lloyds shares have raised £7.4bn and cut the taxpayer's stake in the bank from about 40%. | Previous sales of Lloyds shares have raised £7.4bn and cut the taxpayer's stake in the bank from about 40%. |
| "I can confirm today that the government is taking the next step in returning Lloyds Banking Group to private ownership," Chancellor George Osborne said. | "I can confirm today that the government is taking the next step in returning Lloyds Banking Group to private ownership," Chancellor George Osborne said. |
| The government said shares would not be sold below the average price paid by the previous government of 73.6p. | |
| The trading plan will be managed by investment bank Morgan Stanley. | The trading plan will be managed by investment bank Morgan Stanley. |
| On Tuesday, shares in Lloyds closed at 76.9p. although they were trading below 76p on Wednesday. | On Tuesday, shares in Lloyds closed at 76.9p. although they were trading below 76p on Wednesday. |