RBS desperate to escape government grip
Has the summer winning streak come to an end for RBS shares? It looks as if the Royal Bank of Scotland are desperate to escape a tightening government grip, as rumours spread over a potential cash call by part-nationalised RBS to keep the taxpayer’s stake at 70%, and who can blame CEO Stephen Hester for trying.
According to the media this week the part-nationalised bank, which is 70% owned by the taxpayer, is testing the waters with key investors about potentially issuing preference shares or launching a rights issue of up to £4 billion. If there is enough support, it could all start happening in a couple of weeks.
The bulletin boards are all in a frenzy with no shortage of views on the subject, all pointing in different directions – don’t you just love them? They are a mixture of panic selling by some and just plain boasting by the – ‘look at me I made a mint from RBS and I am off to make a wad of cash in another stock’ bulletin board guru’s.
As a virgin trader, who did invest back in July at 43p, it is all a learning curve and nothing to panic about. Now is not the time to sell (famous last words?). I will just watch and wait, even perhaps enjoy a bit of RBS bulletin board entertainment cause there certainly is a lot of it about.
v
The rights issue has caused a flutter in the dovecotes (bulletin boards) as no one really seems to understand its potential impact.
cool blog
I bookmarked this link. Thank you for good job!