Five years after giving Royal Bank of Scotland Group Plc a record banking bailout, the British government is making it harder to recoup its money by sowing confusion over the firm’s structure and future profitability.
Chancellor of the Exchequer George Osborne said June 19 that he’d review a breakup of the bank, the U.K.’s third-largest by assets, days after Stephen Hester’s resignation as chief executive officer. Osborne said the lender was burdened by too many poor assets, contradicting RBS chairman Philip Hampton, who told investors five weeks earlier the government could start cutting its 81 percent stake next year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
