Government stake in NatWest falls to 11.4% after bank buys back £1bn of shares

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy NatWest has edged another step nearer returning to full privatisation after buying back £1 billion of its shares from the Government. The taxpayer-backed lender said it bought 263 million shares from the Government at a price of 380.8p each, reducing the Government’s stake to around 11.4% from 14.81%, as at the end of October. This transaction represents another important milestone on the path to full privatisation Paul Thwaite, NatWest Group Paul Thwaite, chief executive of NatWest Group, said: “This transaction represents another important milestone on the path to full privatisation. “We believe it is a positive use of capital for the bank and for our shareholders and we are pleased with the sustained momentum in reducing HM Treasury’s stake in NatWest Group throughout this year.” NatWest received several multibillion-pound bailouts during the financial crisis in 2008 and 2009, leaving the Government with an 84% stake in what was then known as Royal Bank of Scotland.