Britain cuts NatWest stake to 22% via buyback as public share sale shelved

LONDON, May 31 (Reuters) – The British government has sold 1.24 billion pounds ($1.58 billion) worth of shares in NatWest Group (NWG.L), opens new tab back to the lender, it said on Friday, decreasing its stake to around 22.5% from nearly 26% as it looks to end its ownership of the bank.

The transaction also comes as Britain’s Treasury department confirmed it had shelved a mooted plan to sell shares to the general public, until after the July 4 general election.