Antonio Horta-Osorio
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Lloyds boss: 'Not up to me' to decide if £11m pay is right

The chief executive of Lloyds banking group has said it is "not up to me" to decide if his £11m pay package is right.

Antonio Horta-Osorio argued that the UK government, which owns 23.9% of the bank, had seen an increase in the value of its holdings of £14bn over the last three years.

He said he has "no intention" of cashing his shares until the government's stake was considerably reduced.

He spoke to the BBC's business correspondent Kamal Ahmed.

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