LONDON: Britain cuts Lloyds Banking Group stake to below 17 percent

#AceFinanceNews#Update:June.23: LONDON (Reuters) – Britain has reduced its stake in Lloyds Banking Group to below 17 percent, the finance ministry said in a stock market disclosure on Tuesday.

The taxpayer’s stake has fallen to 16.87 percent, the ministry added.

Lloyds was rescued at a cost of 20.5 billion pounds to taxpayers during the 2007-9 financial crisis.

(Reporting by Carolyn Cohn, editing by Sinead Cruise)

Britain cuts Lloyds Banking Group stake to below 17 percent

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