A year ago, RBS was the second biggest bank in the UK by market capitalisation. (Dear iPhone, please stop trying to spell that with a “Z”.)
Today, the rights issue intended to prop up the company has failed. Her Majesty’s Treasury, the underwriter of the rights issue, is now the proud owner of 58% of the outstanding shares of RBS.
In just a year, RBS has plunged from #2, through effective nationalisation under the British bailout plan, to actual majority government ownership.
Coming this weekend (or as soon as I get my Macbook back from the shop – why does it take a week to change a battery?): The Biggest Banks of 1999 – Where Are They Now?
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