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RBS (RBS) announces its plans to sell 25% of its Direct Line insurance unit in a London IPO as...

RBS (RBS) announces its plans to sell 25% of its Direct Line insurance unit in a London IPO as part of the conditions for its £45.5B bailout in 2008. Analysts reckon Direct Line could be valued at £3B, although the portents aren't great after Geman insurer Talanx this week withdrew its IPO for the second time in three months due to a disagreement with potential investors over price. (PR)
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