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Lloyds may look at Scottish Widows IPO to ease losses

Lloyds Banking Group may look to launch an initial public offering of Scottish Widows in a bid to raise cash after its bailout.

According to reports, Lloyds is currently is currently reviewing options for Scottish Widows, with the sale of Clerical Medical – which Lloyds acquired following the deal with HBOS – also being looked at.

The report says that the group is keen to keep a stake in Scottish Widows as part of the deal.

Lloyds recently agreed to sell asset manager Insight Investments, which is part of the HBOS Group, to BNY Mellon for £235m.

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