The Treasury has paused the bidding war to run the sale of its NatWest stake.
The Government, which owns around 30 per cent of the lender after it was rescued during the financial crisis, has been looking for a retail investment firm to manage the sell-off of its shares.
But officials quietly suspended the search for a partner last month.
Pause: The Government has been looking for a retail investment firm to manage the sell-off of its shares, but officials quietly suspended the search for a partner last month
‘This decision reflects our emerging views on the type of set-up and infrastructure required to deliver this complex transaction,’ the Treasury wrote in a letter to bidders.
The Government has since insisted that a sale will ‘take place this summer at the earliest’.
