July 19, 2013 / 10:17 AM / 6 years ago

UK picks JPMorgan to advise it on bank share sales

LONDON, July 19 (Reuters) - UK Financial Investments, the body that oversees Britain’s stakes in Royal Bank of Scotland and Lloyds Banking Group, said it had appointed JP Morgan to initially advise it on the possible sale of shares.

UKFI said JP Morgan Cazenove would be its privatisation strategy adviser and help devise strategies “for realising value for the government’s shareholdings in the banks.”

UKFI said it will review the appointment on a periodic basis. It also listed more than a dozen banks shortlisted to work on any share sale.

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