UK government says no timetable, price target for Lloyds sale

LONDON Thu Aug 1, 2013 4:46am EDT

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009. REUTERS/Stefan Wermuth

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009.

Credit: Reuters/Stefan Wermuth

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LONDON (Reuters) - Britain's government reiterated on Thursday that it has no set timetable or target share price for starting the sale of its 39 percent stake in state-backed bank Lloyds (LLOY.L).

"The government has set out its plan to take Britain's banking system from rescue to recovery. As part of this, we have said that we are now actively considering options for sales of the taxpayer's shares in Lloyds," a spokesman for the Treasury said after the bank announced earnings.

"We have also consistently said we have no set timetable or target share price for beginning the return of Lloyds to the private sector, and ensuring value for money for the taxpayer will continue to be the overriding consideration for any sale."

(Writing by William Schomberg; Editing by Susan Fenton)

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