No 10 rules out Lloyds takeover

By politics.co.uk staff

The prime minister’s spokesman has ruled out the full-scale nationalisation of Lloyds Banking Group.

Gordon Brown was giving “no active consideration” to nationalising Lloyds, despite a slump in the share price.

The prime minister was not having doubts about helping merge Lloyds and HBOS, the spokesman added.

The government has put £17bn into the Lloyds Banking Group and owns a 43 per cent stake in the bank.