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Sat, 29 Nov 2008
U.K. takes a majority stake in RBS
EDINBURGH – The Royal Bank of Scotland Group plc (LSE, NYSE: RBS), the parent of Providence-based Citizens Financial Group Inc., today announced that the British government will take a majority stake in RBS after the bank’s attempt to raise capital by issuing new shares failed to attract sufficient public interest. “We regret that existing shareholders didn’t take up their preemptive rights,” said CEO Stephen Hester.
Read more here
posted at: 12:06am on 29-Nov-2008
path: /Rhode_Island_USA | permalink
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