RBS starts its return to the private sector

The government began to return Royal Bank of Scotland to the private sector this week, seven years after saving it from collapse.

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The government has sold its stake in RBS at a loss

The government began to return Royal Bank of Scotland to the private sector this week, seven years after taking a 79% stake in order to save it, and the economy, from collapse. Early this week it placed a 5.2% stake on the market at around 330p a share, raising £2.1bn. In 2008, the government paid 502p a share, and ultimately spent a total of £42bn shoring up the bank.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.