Shares in taxpayer-controlled Royal Bank of Scotland jumped more than 5% today on news that the Abu Dhabi royal family has been tapped up as a potential buyer for part of the Government’s stake.
The shares gained 1.55p to 29.28p — their highest level since August last year.
Andrew Tyrie, chairman of the Treasury Select Committee, said the sell-off should not be delayed. “The best prospects for taxpayers and, in the end actually, for the retail bank user, lie in RBS being run as a fully commercial company.”
He added that his committee would scrutinise any deal that is proposed to make sure that the taxpayer gets value for money.
Tyrie added: “It strikes me as sensible to take an opportunity if it is there.”
It is reported that the first sale of shares could be anything from a tenth to a third of the Government’s 82% stake in RBS.
