Sweden sells off stake in Nordea

The Swedish government is to sell up to 6.3 per cent of top Nordic bank Nordea, potentially raising close to $3bn (£1.86bn) as it makes good on a pledge to trim ownership in corporate assets.

Sweden, which will reduce its stake by nearly a third through the sale, will use the proceeds to cut national debt. The government made the announcement yesterday, a day after the region's top bank posted forecast-beating results.