The UK government has opened talks with brokers, including Hargreaves Lansdown Plc and AJ Bell Plc, to sell its one-third share in NatWest Group. This stake, worth approximately £6.7 billion, is a remnant from the 84% holding acquired during the 2008 financial crisis. The government is exploring the option of reducing its stake in NatWest by engaging with brokerage firms and potentially offering shares to retail investors. This move is significant as it signals the government’s plan to shift NatWest shares out of the public sector and into private ownership, potentially impacting the banking sector and the overall financial landscape in the UK.

Government Initiates Talks with Brokers to Sell NatWest Shares

The UK government, which currently owns around 35% of the total shares in NatWest, is taking steps to sell its stake in the bank. Talks have begun with brokerage firms, including Hargreaves Lansdown Plc and AJ Bell Plc, to explore the possibility of marketing NatWest shares to the public through retail offers. This announcement comes as the government aims to reduce its ownership in the banking sector and move NatWest shares into private ownership. The sale of NatWest shares, valued at approximately £6.7 billion, is the result of the government’s decision to divest a portion of its holdings acquired during the 2008 financial crisis.

Summary:

1. The UK government is in talks with brokers, including Hargreaves Lansdown Plc and AJ Bell Plc, to sell its one-third share in NatWest Group
2. The government’s stake in NatWest, currently worth £6.7 billion, is a remnant from the 2008 financial crisis
3. The government plans to reduce its ownership in the banking sector and move NatWest shares into private ownership
4. Talks with brokerage firms aim to explore options for marketing NatWest shares to the public through retail offers
5. This move can potentially impact the banking sector and the overall financial landscape in the UK

Bloomberg: “The UK has opened talks with brokers including Hargreaves Lansdown Plc and AJ Bell Plc about helping to sell the state’s shares in NatWest…”

The Guardian: “Jeremy Hunt won’t be a happy bunny after several top City financiers said NatWest’s shares will have to be sold at a heavy discount…”

The Telegraph: “Plans to sell the government’s stake in NatWest Group PLC have reportedly been discussed with investment platforms Hargreaves…”