LONDON (Reuters) - Lloyds Banking Group L:LLOY plans to sell off at least 25 percent of its TSB business in a stock market flotation before the end of June, Finance Director George Culmer told reporters on a conference call.
Lloyds must sell the business, valued by analysts at around 1.5 billion pounds, as a condition of its 20.5 billion pound bailout during the 2008/9 business.
Culmer confirmed that some of the shares will be offered to private retail investors.
(Reporting by Matt Scuffham; Editing by Steve Slater)