UK asks banks to tender for Lloyds, RBS advisory roles

LONDON (Reuters) - Britain has kicked off the process of appointing advisors for the sale of its shares in Lloyds Banking Group and Royal Bank of Scotland , asking investment banks to submit proposals by July 8.

UK Financial Investments (UKFI), which manages the government's stakes in the banks, is looking to appoint a bookrunner, co-lead managers, capital markets advisers and strategic advisors for the sales.

Finance minister George Osborne said in his annual speech to financiers in the City of London last week that the government was ready to start selling its shares in Lloyds.

(Reporting by Matt Scuffham, Editing by Kylie MacLellan)

Source: http://news.yahoo.com/uk-asks-banks-tender-lloyds-rbs-advisory-roles-114148384.html

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