The Lloyds Banking Group has seen its share price increase after media speculation that it is preparing to sell Lex Autolease – the country’s largest lease vehicle supplier.
Its share price has risen from 46p to over 50p over the past five days following reports that it will sell the leasing giant for £1bn.
Lloyds Banking Group refused to comment on the report.
The Lex Autolease business is not a core bank operation and therefore it is possible that it is being prepared for sale.
As a result, speculation is likely to continue until the banking group makes a definitive statement about its intentions.