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UK raises further 500 million pounds from Lloyds share sale -finance minister

Reuters - UK Focus

LONDON, March 26 (Reuters) - The United Kingdom has raised a further 500 million pounds from the sale of shares in Lloyds Banking Group, finance minister George Osborne said on Thursday.

The size of the stake owned by British taxpayers in Lloyds has fallen below 22 percent, according to a regulatory filing. The UK took a 40 percent stake in Lloyds when it was rescued in 2009.

"We have raised a further 500 million pounds ($745 million) through Lloyds share sales," Osborne said on Twitter (Xetra: A1W6XZ - news) . "Nine billion pounds now recovered and being used to pay down our national debt." ($1 = 0.6703 pounds) (Reporting by Guy Faulconbridge; editing by John Stonestreet)