RBS to move closer to sale

 
Tim Wallace
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STATE-BACKED bank RBS is today expected to reveal it is ready to begin privatisation proceedings, preparing a prospectus to give to potential investors ahead of a sale.

The state could sell a stake in the next 18 months to raise interest in RBS and boost the overall sale price.

The bank’s first quarter results are likely to show a profit, providing a platform for chairman Sir Philip Hampton to the announce the plan, according to Sky News.

The government is also interested in selling Lloyds by the end of 2014.