Direct Line to float
By Claire West
Royal Bank of Scotland(RBS) today announced that it was going ahead with the flotation of Direct Line in what would be one of the biggest listings on the London Stock exchangefor quite some time.
According to some analysts the company could be worth £3bn.
RBS Finance Director Bruce Van Saun said;
"We believe it has a strong future as a standalone insurance group, continuing to serve its customers well while delivering attractive returns to investors,"
Under EU rules governing state aid RBS has until 2013 to dispose of the business.