UK government kicks off NatWest share sale

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The British government kicked off the sale of a further stake in taxpayer-backed NatWest Group (NWG.L), edging it a step closer to private ownership more than a decade since its rescue in the financial crisis.

People maintain social distance while they queue outside a Natwest bank in Wimbledon, following the outbreak of the coronavirus disease , London, Britain, May 1, 2020. REUTERS/Hannah McKay, edging it a step closer to private ownership more than a decade since its rescue in the financial crisis.

NatWest has remained majority state-owned following a 45 billion-pound bailout in 2008. The government's last sale of stock to outside investors was in 2018. Despite the dip, NatWest's stock price has more than doubled since hitting a low of 90.5 pence in September, as optimism has built about prospects for Britain's economic recovery from the coronavirus pandemic.

 

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