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HBOS Hbos

70.10
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hbos LSE:HBOS London Ordinary Share GB0030587504 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 70.10 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Lloyds Chairman Doesn't Want Higher UK Government Stake In Bank

20/01/2009 7:50am

Dow Jones News


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Lloyds Banking Group (LLOY.LN) Chairman Victor Blank said he doesn't want the government to take a bigger stake in the bank, although he's happy to have them as a shareholder.

"I think we can probably conduct our business better than the government can conduct it for us," Blank told Sky News late Monday.

The U.K. government currently has a stake of 43% in Lloyds Banking Group, which started trading Monday following the successful merger of Lloyds TSB and HBOS. The stake came after HBOS was forced to make a government-backed rights issue as part of the government's bailout of U.K. banks last year.

Blank said the government shouldn't have a higher stake, and he believes it better for the bank's customers, "that we are more secure, we are safer, that we can give them a greater range of products."

"We believe in time it will be better for our shareholders," he added.

-By Steve McGrath, Dow Jones Newswires; 44-20-7842-9284; steve.mcgrath@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.

 
 

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