Sale of US shares could start next year
(NEWSER) - The Treasury and AIG are negotiating a plan that will allow the government to sell off its massive stake in the insurance company and repay taxpayers in full—over several years. Under the plan, the US would convert its $49 billion in preferred shares into common shares, likely increasing the government’s ownership stake to more than 90%, from its current 79.8%, the Wall Street Journal reports. Then the government will slowly sell off its stock. An independent AIG would be seen as a victory for both the company and the government, which has seen many banks repay their bailout debts earlier than expected. More»
