The British government will announce plans to take controlling stakes in Royal Bank of Scotland and HBOS, two of the banks worst affected by the financial crisis, reports said. The unprecedented move would make the government the biggest shareholder in the banks and government representatives could be installed on their boards, the Sunday Times and Sunday Telegraph newspapers reported. The scale of the operation could lead to trading in the banks on the London stock market being suspended to allow traders to digest the news, the reports said. A banking source told AFP four banks - RBS, HBOS, Lloyds TSB and Barclays - will announce before markets open on Monday that they are taking up the offer of the government's bailout package announced on Wednesday. British finance minister Alistair Darling told the BBC he had spent the...
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