Private equity firm eyes Lloyds

Former trade minister Lord Davies of Abersoch is reportedly leading plans to buy up to half of the taxpayer stake in Lloyds Banking Group.

The Labour peer and former Standard Chartered chairman, who served in Government under Gordon Brown, is said to be trying to bring together a consortium of investors and overseas funds to buy a £10 billion chunk of the bank, which is 39% state-owned.
%VIRTUAL-SkimlinksPromo%