RBS In £2bn Stake Sale As Goodwin Remains On 'The Hook' Over Disastrous £12bn Rights

With Chancellor George Osborne announcing the start of Britain’s largest ever privatisation through the sale of around £2 billion (c.US$3.1bn) worth of shares in Royal Bank of Scotland (RBS) - just under a 5.2% stake - one wonders why offload 600m shares in the UK bank at a loss amounting to some £1bn (c.US$1.55bn). Hardly terrific business.