Speculation mounts around Direct Line flotation
Direct Line Group could tomorrow announce its intention to float on the London Stock Exchange, according to reports.
Reuters has reported sources indicating that parent company Royal Bank of Scotland will announce the news as early as this Thursday.
The flotation of the insurance arm, recently renamed Direct Line Group, has been valued at potentially over £3bn.
RBS has to sell the unit under the terms and conditions of its bailout during the credit crisis.
The article added that RBS had declined to comment.
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