Britain will sell more shares in Lloyds Banking Group over the next six months, moving the bailed-out bank another step towards a full return to private ownership and recouping more taxpayer cash.Britain's finance ministry and UK Financial Investments (UKFI), which manages the Lloyds' stake, said on Wednesday the shares would be sold by Morgan Stanley through a "pre-arranged trading plan"."It is another step in reducing our national debt and in getting taxpayers' money back," Britain's Finance Minister George Osborne said in a statement.Britain pumped 20.5 billion pounds into Lloyds to rescue it during the 2007-2009 financial crisis, leaving it with a 40 percent stake in the bank. It currently holds a 25 percent stake, having raised 7.4 billion pounds through two share sales in September last year and March this year.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.97% or $0.345/share to $35.86. In the past year, the shares have traded as low as $28.31 and as high as $38.14. On average, 10424900 shares of MS exchange hands on a given day and today's volume is recorded at 2228189.
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