AlQa'dah 11, 1434, Sep 17, 2013, SPA -- The British government on Tuesday sold a six-per-cent stake in Lloyds bank for 3.2 billion pounds (5 billion dollars), after announcing that it was to begin the bank's re-privatization, DPA reported. The government had owned a 39-per-cent stake after it bailed the bank out for 20.3 billion pounds in 2008, at the height of the financial crisis. Its stake has now been reduced to around 33 per cent after it sold 4.28 billion shares for 75 pence per share, according to UK Financial Investments, which manages the stake for the government. That means the government has made a profit of 61 million pounds after it paid 73.6 pence per share in 2008.
