RBS in £1.6bn disposal
The Royal Bank of Scotland has disposed of its 4.26% equity stake in Bank of China for a net consideration of £1.6 bn. RBS - which has also been looking at the potential disposal of its insurance businesses including Direct Line and Churchill - sold 10.8 bln H shares at HK $1.71 per share.
In a statement RBS said: "The decision to sell the stake forms part of the ongoing strategic review of the Group's businesses announced in October. After taking account of tax and the effects of
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