LONDON: Shares in Royal Bank of Scotland rose in early trading on the London Stock Exchange after Britain's Finance Minister George Osborne said the government would start selling its shares in the bank.
In his annual speech to financiers in the City of London on Wednesday evening, Osborne said he had decided to begin selling the government's 80 percent stake in the bank, worth 32 billion pounds ($49 billion), after taking independent advice from investment bank Rothschild and the Bank of England.
Shares in RBS were up 2.1 percent to 362.3 pence at 0711GMT.
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