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UKFI courting sovereign wealth funds to buy bank stakes, say reports

UK Financial Investments is reportedly already talking to sovereign wealth funds and other potential investors about selling its stakes in the part-nationalised banks.

UKFI, which manages the taxpayer’s 43 per cent stake in Lloyds banking group and its 70 per cent stake in Royal Bank of Scotland, is reportedly sounding out potential investors so that it can begin offloading its stakes within a year.

It is not thought likely that the organisation could sell its investments entirely within a year, but rather it would look at a gradual exit phased over some time.

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