Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
London - Royal Bank of Scotland Group said on Monday that the European Commission will require more sales of assets than originally expected before granting approval of the bailout which made the government a majority owner.
The bank said negotiations between the British Treasury and the Commission, the executive arm of the European Union, were "in their final stages, and will include some divestments not initially contemplated".
The bank gave no details about what parts of its business it might be forced to sell.
"It remains RBS's goal that any required divestments do not threaten its recovery plan which is already under way," the company said.
RBS said it was also close to agreement with the Treasury about terms for insuring questionable assets, a step which will increase the government's stake in the bank from the current 70%.
- AP