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Wed 11 Nov 2009British government to invest £30bn in two banks
THE BRITISH government will invest a further £30 billion into the UK’s two biggest troubled banks, which will both have to sell off significant parts of their operations to meet European Commission concerns.
The sell-offs by RBS and the Lloyds Banking Group, which are to be completed by 2013, will see nearly 10 per cent of the UK retail banking market available to international banks and to companies seeking to expand, such as Tesco and Virgin.
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