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UK sells 2.1 bln stg of RBS shares at 330 pence/shr

Reuters - UK Focus

LONDON, Aug 4 (Reuters) - The UK government sold a 2.1 billion pound ($3.3 billion) stake in Royal Bank of Scotland (LSE: RBS.L - news) (RBS) at 330 pence per share, kicking off the disposal of its holding seven years after bailing out the bank.

UK Financial Investments, the body that holds the government's RBS stake, said on Tuesday it had sold 630 million shares, representing 5.4 percent of the bank, in a quick-fire sale to institutional investors after the market closed on Monday.

UKFI sold more shares than it had indicated on Monday, when it had announced it planned to sell 600 million shares in the bank. RBS shares closed at 337.6p on Monday, so the shares were sold at a 2.3 percent discount. ($1 = 0.6409 pounds) (Reporting by Steve Slater; Editing by Sinead Cruise)