NatWest has edged another step nearer returning to full privatisation after buying back £1 billion of its shares from the Government.
The taxpayer-backed lender said it bought 263 million shares from the Government at a price of 380.8p each, reducing the Government’s stake to around 11.4% from 14.81%, as at the end of October. NatWest has now bought back £2.2 billion of state-owned shares so far this year through two rounds of buybacks.
The taxpayer-backed lender said it bought 263 million shares from the Government at a price of 380.8p each, reducing the Government’s stake to around 11.4% from 14.81%, as at the end of October. NatWest has now bought back £2.2 billion of state-owned shares so far this year through two rounds of buybacks.
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NewsTranscript
00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and
00:06here are your headlines for this morning. NatWest has edged another step closer to returning
00:12to full privatisation after buying back £1bn of its shares from the government. The taxpayer-backed
00:20lender said it bought 263m shares from the government at a price of £380.8 each, reducing
00:29the government's stake to around 11.4% from 14.81% at the end of October. NatWest has
00:37now bought back £2.2bn of state-owned shares so far this year, through two rounds of buybacks.
00:45Together with the ongoing share sales by the Treasury, this has helped cut the government's
00:50stake by more than two thirds since December last year, down from 38%. My name's Greg Wright,
00:58I'm the Deputy Business Editor of the Yorkshire Post.