RBS could announce Direct Line flotation this week

Government-owned lender Royal Bank of Scotland (RBS) could start the process of spinning off its Direct Line Insurance Group by the end of the week, reports indicate.

Government-owned lender Royal Bank of Scotland (RBS) could start the process of spinning off its Direct Line Insurance Group by the end of the week, reports indicate.

Quoting persons close to the discussions, news agency Bloomberg claims RBS is poised to sell around a quarter of Direct Line through a stock market flotation to generate around £1.0bn, although no decision has yet been made about either timing or the valuation of the flotation.

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