LONDON, Oct 21 (Reuters) - The body that manages Britain'sbank stakes said it is closer to selling shares in Royal Bank ofScotland and has seen growing appetite from financialinstitutions interested in buying the shares.
Oliver Holborn, head of capital markets at UK FinancialInvestments (UKFI), also said he had met with the agency'sadvisor JP Morgan more than 5 times to discuss the issue duringthe past month. However, he said UKFI still needed more clarityon future litigation issues before it can start selling thegovernment's 80 percent stake in the bank.
"We are definitely seeing more interest from institutions about investing in RBS. If you speak to institutional investorsthey will tell you that (RBS Chief Executive) Ross McEwan hasmade very good progress," Holborn told parliament's TreasurySelect Committee on Tuesday.
(Reporting by Matt Scuffham, editing by Anjuli Davies)
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