RBS sale for five years, says Vince Cable

Vince Cable says RBS may not be sold for another five years. Picture: Dan Phillips

Vince Cable says RBS may not be sold for another five years. Picture: Dan Phillips

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THE Royal Bank of Scotland may not be sold for another five years, Business Secretary Vince Cable has indicated.

The bank, which is 81 per cent owned by the UK Government, is set to undergo extensive restructuring before it returns to the private sector. 
Mr Cable said it would be unwise to set a “rigid timetable”, but added: “I think it is pretty unrealistic to think of RBS going back into private ownership this parliament, or probably within five years.”