The Government had planned a public share sale this summer but that has been pushed back because of the upcoming General Election.
The Government has sold £1.24 billion of shares in NatWest, accelerating the process of bringing the high street bank into private ownership.
NatWest received several multibillion-pound bailouts during the financial crisis in 2008 and 2009, leaving the Government with an 84% stake in what was then known as Royal Bank of Scotland.The process has accelerated of late, and Chancellor Jeremy Hunt reaffirmed the Government’s plan to sell all of its interest in the bank by 2025 or 2026 in the Spring Budget.
The election will take place on July 4, with Parliament due to be summoned to sit again on Tuesday July 9.
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