The BBC has learned that the UK government is considering selling a significant stake in the Royal Bank of Scotland (RBS) to Abu Dhabi. The troubled bank had been bailed out by the taxpayer and the government owns 82%. It is thought that the government could sell up to a third of its stake to Abu Dhabi, one of the seven states of the United Arab Emirates.
Despite a Treasury spokesperson saying that the “government’s policy has always been to return RBS to the private sector, but only when it delivers value for money for the taxpayer“, if the shares are sold at their current value it would be a loss-making sale, as RBS shares trade at much less than the UK government paid in 2008.
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