03:03 PM EDT, 05/10/2024 (MT Newswires) -- The UK government is expediting plans to cut its stake in NatWest Group ( NWG ) by selling shares to investors this year, Bloomberg reported Friday, citing people familiar with the matter.

The plans could mean its ownership of NatWest ( NWG ) will fall well below 10% this year, the report said. The government, which owns over a quarter of the business and is its biggest shareholder, had previously disclosed plans to divest its entire holding by 2026.

A spokesperson for the UK Treasury told Bloomberg that the government was yet to make a final decision.

A NatWest ( NWG ) representative declined to comment to the publication.

NatWest ( NWG ) and the UK government did not immediately respond to requests for comment from MT Newswires.

(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.)

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