RBS (RBS) will sell shares in its Direct Line insurance unit for less than expected in order to...

|By:, SA News Editor

RBS (RBS) will sell shares in its Direct Line insurance unit for less than expected in order to attract investors, the FT reports. At the mid-point of its target price-range, Direct Line will be valued at £2.6B, below consensus of £2.7B-£2.9B and the £3.4B that some banks on the deal were pushing for. RBS could issue a prospectus this week.