Share sales up to the government
THE next sale of taxpayer shares can start whenever the government chooses, Lloyds chief executive, Antonio Horta-Osorio, has said.
But the bank also warned it will not recoup all the £1.6bn it spent hiving off TSB, when it floats on the stock market in the summer. That was ordered by the EU, after Lloyds received its £45bn taxpayer bail-out. Horta-Osorio, who picks up a £1.7m share bonus for 2013, said: "We think that we are a normal bank now."