The U.K. government's plan to sell a significant part of its 70% stake in Royal Bank of Scotland Group PLC could be delayed by the Italian political chaos that has affected the European markets, CFO Ewen Stevenson said May 30.
Stevenson said on the sidelines of RBS' annual general meeting that he would be "surprised" if the sale began soon, given the turbulence, Bloomberg News reported May 30. A report earlier in the week had suggested a sale could be imminent.
Stevenson, who earlier on May 30 said he would leave RBS to take another job, added that the bank is ready to be privatized when the government does opt to begin sales.
