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More than a decade after the financial crisis, the UK government is taking another step towards cutting its majority shareholding in NatWest.
The Treasury announced this morning it has instructed Morgan Stanley to sell NatWest shares on its behalf over a 12-month window, with sales starting on 12 August 2021 at the earliest and running for up to a year.
The sale is capped at 15% of the traded volume of NatWest shares, and the Treasury insists they will only be sold at a price that represents “value for money for taxpayers”.
The government says this trading plan shows “continued progress” towards the government’s plan to return its shareholding to private ownership, adding:
Shares will only be sold at a price that represents value for money for taxpayers.
There is cap on the total…