LLOYDS Banking Group is preparing to launch a mega-sale of stakes held by Halifax Bank of Scotland in some of Britain's best-known companies, reports say.

Shareholdings in more than 60 firms including cinema chain Vue Entertainment, gym group David Lloyd Leisure, and D&D Restaurants, founded by Sir Terence Conran, are reportedly being lined up for sale.

The part-nationalised bank is said to have asked UBS to look at selling investments accumulated by HBOS for around £1.4bn. Lloyds, now 43 per cent owned by the taxpayer, is eyeing disposals to bolster its balance sheet after the rescue of HBOS landed it with hefty bad debts.

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