(RBS saga cont) The EU may force RBS to sell more assets than planned (November 02, 2009)
The Royal Bank of Scotland, 70% owned by the Government, has said that the European Union may force them to sell more assets than they had planned, this caused a 14% drop in stock.
RBS said It remains RBSs goal that any required divestments do not threaten its recovery plan.
As previously reported on www.localbusinessfinance.co.uk RBS will probably have to sell off some of its leading brands such as Churchill, Green Flag and Direct Line. It may also have to close 300 branches and get rid of some of its investment banking.
RBS are said to be standing firm to try and keep their plans on track, but then they did that before and look where it got them.
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