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UK investment authorities give go ahead for Lloyds share sale

LONDON - Britain's investment authority says it has given the go-ahead for more shares to be sold in Lloyds — a banking group that had to be bailed out during the financial crisis. U.K. Financial Investments, the arm of the British government which manages the country's stakes in Lloyds and the Royal Bank of Scotland, announced Tuesday it was selling 7.5 per cent of Lloyds' ordinary share capital. Following its second stake sale to financial institutions, the government will own only 25 per cent of Lloyds.

Aberdeen buys Scottish Widows from Lloyds for $1 billion

By Chris Vellacott and Matt Scuffham LONDON (Reuters) - Aberdeen Asset Management <ADN.L> bought Lloyds' <LLOY.L> fund management arm Scottish Widows for about 660 million pounds ($1.1 billion) on Monday, making it Europe's No. 1 listed stand-alone fund manager. Aberdeen will pay with shares worth about 560 million pounds, or 9.9 percent of the company, Lloyds said, and assets under management will rise to 336 billion from 200 billion. Lloyds has agreed a one-year lock-up on the shareholding.

Lloyds ready for government sale as turnaround speeds up

By Steve Slater and Carmel Crimmins LONDON (Reuters) - Lloyds <LLOY.L> accelerated its turnaround campaign and flagged a revival of payouts to shareholders on Thursday, paving the way for the government to start selling its stake in Britain's largest retail bank soon. Prime Minister David Cameron is keen to show that Britain's part-nationalized lenders are on the mend, and a profitable sale of part of the state's 39 percent stake in Lloyds would allow him to claim at least partial success.

UPDATE 1-Lloyds to sell 20 percent stake in St James's Place

* St James's Place stock up nearly 27 pct this year * Lloyds to sell at least 102 mln shares By Kylie MacLellan LONDON, March 11 (Reuters) - UK lender Lloyds plans to sell 20 percent of wealth manager St James's Place to focus on core banking and respond to regulatory pressure to strengthen its capital. The placing of at least 102 million shares would be worth just under 550 million pounds ($820 million) at St James's Place closing share price on Monday of 536.5 pence.

UPDATE 4-Lloyds mis-selling hit cools prospects for UK share sale

* Lloyds' PPI mis-selling bill rises to 6.8 bln stg * CEO 'very confident' taxpayers will get money bank * 2012 pretax profit 2.6 bln stg vs 2.4 bln forecast * UK Treasury says 'still work to be done' at bank * Shares fall as much as 8.6 pct By Matt Scuffham and Steve Slater

UPDATE 2-Ex-Lloyds Bank CEO says most PPI policies not mis-sold

* Daniels says about half of PPI complaints are false * Daniels says most customers buying PPI got good value * Ombudsman data shows Lloyds loses 98 pct of cases * Lloyds has set aside 5.3 bln stg for compensation By Matt Scuffham LONDON, Feb 14 (Reuters) - The former head of Britain's biggest retail bank said the majority of insurance policies taken out on loans and mortgages were not mis-sold, blaming false claims for the rising bill for banks paying compensation.
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