Canadian banks 'interest' in RBS

A hedge fund boss has been snapped going into Downing Street with papers on display that appear to show discussions about RBS and Canadian banks.

Latest ITV News reports

Hedge fund manager had 'routine' meeting at No 10

by - Former Business Editor

Downing Street sources have told ITV News that the hedge fund manager, Davide Serra, had a "routine" meeting with an official this morning in Number 10.

I understand that Serra had not been specifically asked to discuss any potential deals between RBS and Canadian banks.

Davide Serra's meeting was 'routine' according to Number10.
Davide Serra's meeting was 'routine' according to Number10. Credit: John Stillwell/PA Wire

Nevertheless, there is intense speculation around what might happen to RBS and when any parts of the bank might be sold.

With the taxpayer being the biggest shareholder in the company, it matters to us all.

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Possible futures for taxpayer owned RBS

In a series of deals in 2008 and 2009 the UK government bought a 81% stake in RBS to rescue the bank.

As shares have struggled to regain their former value there are ongoing concern about how long the bank will stay in taxpayer hands and fears the government could lose money on the deal.

The future of the bank has been much debated, earlier this week there was talk of shares in the bank being given out to taxpayers to get it back in private hands.

Last week saw rumours of plans to split the bank as the Banking Commission met to decide on its recommendations.

Read more: Good bank, bad bank? Wrong and a distraction says the CBI

Today has seen a hedge fund boss pictured outside Downing Street with papers hinting at Canadian interest in the bank.

Is there Canadian interest in RBS?

by - Former Business Editor
Davide Serra outside Downing Street.
Davide Serra outside Downing Street. Credit: Steve Back

Hedge fund boss, Davide Serra, has been snapped going into Downing Street with papers on display which appear to show discussions about RBS and Canadian banks.

With intense speculation over the future of RBS, papers including phrases about making the bank 'more Canadian' are sure to be interesting.

Davide Serra carrying papers outside Downing Street.
Davide Serra carrying papers outside Downing Street. Credit: Steve Back

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