UK sets out new law to break up errant banks

Reuters : London, Mon Feb 04 2013, 20:28 hrs

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However, Tony Anderson, a partner in the banking team at international law firm Pinsent Masons said the move could backfire on the government - making it more difficult to sell of its shareholdings in RBS and Lloyds.

"There could be significant political fallout for the Government from any proximity between a sell down of shares in a state owned bank and a full separation of banking operations following a breach of the ring fencing measures," Anderson said.

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