UK government set to sell NatWest shares – Sky News By Reuters

LONDON (Reuters) – The British government is preparing to sell a stake in NatWest Group in the coming days, Sky News reported on Monday, sending shares down in the state-backed lender.

The government is likely to sell just over 1 billion pounds ($1.41 billion) of stock, amounting to around a 5% stake, Sky reported citing a fund manager.

Shares in NatWest fell 2% on the report, after previously being up around 2% on the day.

NatWest is 60% state-owned following a 45 billion pound bailout in the 2007-09 financial crisis. The government’s last sale of stock was in 2018.

The Treasury was not immediately available for comment. NatWest declined to comment.

($1 = 0.7074 pounds)