Summary
TAXPAYERS are sitting on paper losses of around pounds 2.5bn after the deadline for Royal Bank of Scotland's pounds 15bn share offer expired.
The Government has agreed to buy any of the 22.9bn new shares not taken up by existing shareholders to shore up RBS's finances. With the bank's shares trading at 55p - more than 10p below the 65.5p price of the new shares - investors are likely to snub the stock, leaving the public sector controlling up to 58% of the bank.See the full content of this document
Extract
Taxpayers Face Pounds 2.5bn Rbs Loss
RBS will announce t...
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