UK government cuts stake in Lloyds to just under 14%

The UK government has sold more of its shares in Lloyds Banking Group, bringing its stake down to 13.99% from 14.98%.

Lloyds said on Monday that the government now owns 9.98bn shares in the bank compared with 10.69bn previously.
There was no price disclosed for the share sale, which took place last Friday.

The move comes amid speculation that the government could start selling its shares in Royal Bank of Scotland this week.

At 0911 BST, Lloyds shares were up 0.6% at 83.70p.