06:24 AM EDT, 04/18/2024 (MT Newswires) -- NatWest Group ( NWG ) shareholder Norges Bank Investment Management, or NBIM, will back the British bank's plan to repurchase up to 15% of its outstanding stock from the British government over a year to accelerate privatization, Reuters reported Thursday, citing NBIM.

NBIM, which operates Norway's sovereign wealth fund and has a 3.23% stake in NatWest Group ( NWG ), plans to vote in favor of a resolution that covers the increased buyback at NatWest's ( NWG ) annual meeting on Tuesday, the report said.

NBIM and NatWest Group ( NWG ) did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)