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RBS Stake Sale May Be Delayed by Italian Turmoil, CFO Says

The market turmoil in Italy could prolong the U.K. government’s plan to sell its majority stake in Royal Bank of Scotland Group Plc, according to outgoing Chief Financial Officer Ewen Stevenson.

Stevenson, speaking on the sidelines of RBS’s annual shareholder meeting in Edinburgh on Wednesday, said he would be “surprised” if the government were to start divesting its holding soon. The state, which controls about 70 percent of the lender, has considered selling its stake sooner than its March 2019 target if market conditions are favorable, people familiar with the matter said earlier this month.