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Co-op Group sells remaining stake in Co-op Bank

The Co-operative Group has sold is remaining 1% stake in Co-op Bank for 5m.

The retail and services group has offloaded the final 1% stake it held in the troubled Co-op Bank.

The Co-operative group is understood to be preparing a 140m bid for the convenience store operator.

Shareholders back a 700m rescue deal that will cut the Co-Op Group's stake in the Co-Op Bank.

The struggling bank says it lost 2% of its current accounts amid the uncertainty over its future.

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