What's happened
The UK General Election called by the Prime Minister has thrown plans for a NatWest share sale into uncertainty. The Government's aim to offload its stake in NatWest to ordinary investors by 2025-2026 may be delayed due to the election. Additionally, Getir, a grocery delivery app, is exiting the UK with a significant debt to Tottenham Hotspur FC. Meanwhile, Revolut, a fintech giant, is preparing for a $500m secondary share sale led by CEO Nik Storonsky.
What's behind the headline?
What the papers say
According to The Independent, the General Election could jeopardize the NatWest share sale, potentially delaying the government's plans. Sky News reports that Rishi Sunak's decision to call the election has derailed the NatWest share sale plans. Sky News also reveals Getir's outstanding debt to Tottenham Hotspur FC as the grocery delivery app exits the UK. Another Sky News article highlights Revolut's plans for a $500m secondary share sale led by CEO Nik Storonsky.
How we got here
The UK Government aims to fully offload its stake in NatWest to ordinary investors by 2025-2026. Getir, a grocery delivery app, is exiting the UK with outstanding debt to Tottenham Hotspur FC. Revolut, a leading fintech company, is preparing for a $500m secondary share sale, emphasizing its growth in the financial technology sector.
Go deeper
- What impact could the General Election have on the UK's financial markets?
- How might Getir's exit from the UK affect the grocery delivery industry?
- Tell me more about Revolut's plans for the $500m share sale.
Common question
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What Led to Nadhim Zahawi's Appointment as Chair of Very Group?
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What changes are expected at Very Group with the appointment of Nadhim Zahawi as chair?
The appointment of Nadhim Zahawi as the chair of Very Group signals significant changes in the leadership of the online retailer. This move is expected to have a profound impact on the strategic direction and operations of Very Group, potentially influencing its future growth and performance.
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Who is the new chair of Very Group?
Former UK chancellor Nadhim Zahawi has been appointed as the new chair of Very Group, an online retailer owned by the Barclay family. This significant appointment has implications for the company's future growth and stability. Learn more about Nadhim Zahawi's new role and its potential impact below.
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Why did Nadhim Zahawi step down as a Conservative MP?
Nadhim Zahawi's decision to step down as a Conservative MP has sparked curiosity and speculation. Let's delve into the reasons behind this significant move and explore its implications.
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How has the UK General Election impacted the NatWest share sale plans?
The recent UK General Election has cast uncertainty over the NatWest share sale plans, potentially delaying the government's aim to offload its stake to ordinary investors. This development raises questions about the future of NatWest's privatization and the broader implications for the UK economy.
More on these topics
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Nadhim Zahawi is an Iraqi-born British Conservative Party politician of Kurdish descent who is a junior Minister and has been the Member of Parliament for Stratford-on-Avon since 2010, after the retirement of previous Conservative MP John Maples.
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The Very Group is a multi-brand online retailer and financial services provider in the United Kingdom and Ireland. It is based in the Speke area of the city of Liverpool, England.
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The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign country located off the northÂwestern coast of the European mainland.
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National Westminster Bank, commonly known as NatWest, is a major retail and commercial bank in the United Kingdom. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank.
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A treasury is either
A government department related to finance and taxation, a finance ministry.
A place or location where treasure, such as currency or precious items are kept.