The U.K. government took control of Lloyds Banking Group over the weekend. This may come as a relief to Lloyds. INN previously reported that shares of Lloyds Banking Group fell 11.5% on February 27, according to Forbes.com. At that time, the bank and British government had not yet agreed on a deal for legal assurance, which some think may have caused the fall.
Shares of Lloyds Banking Group have since recovered to trade 4.1%, or 1.7 pence (3 cents), higher at 43.7 pence (60 cents), after the U.K. government announced it would take a larger, controlling stake in the firm.
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