FT.com / UK / Politics & policy - Tories plan early sale of state bank stakes.
A Conservative government plans to rush through a competition inquiry into concentration in the British banking sector, paving the way for the possible initial sale of stakes in the state-owned banks next year.
Of course they plan an early sale.
That lets it happen at a significant undervalue to enrich their friends.
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I always said this would likely happen – is there any way that we, as the general public could take advantage of this situation
I was very young during the last sell-off by the government – how does it work.
Do they offer shares to the public via an IPO? Is it likely to be a private placement with their rich backers?
Is there likely to be some other smoke and mirrors and general financial alchemy to mean that a certain class of investors do very well, but that class is a closed inner circle? I could imagine a number of ways this would happen.
Given that we, at large, bailed them out, and the sale would very likely be at ‘below value’ I think its important that the public has a chance at sharing in the profit