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A quarter of Bank of Ireland to remain in private hands - report

Despite resistance from the bank, quasi-nationalisation appears inevitable but the government does want to keep a portion of the Bank of Ireland in private ownership.

Bank of Ireland on Baggot Street in Dublin.
Bank of Ireland on Baggot Street in Dublin.
Image: Julien Behal/PA Wire/Press Association Images

THE GOVERNMENT IS aiming to keep at least one-quarter of Bank of Ireland in private hands according to a report today.

Writing in the Sunday Business Post, Jon Ihle says that the government wants to keep at least 25 per cent of the bank in the hands of current shareholders, bondholders and any strategic investors which emerge as it looks to raise €5.2 billion that will likely give the State a majority share in the bank.

The Department of Finance is devloping the plan to take majority control of the bank despite Bank of Ireland’s wishes for the State’s shares to remain at the current level of 36 per cent. Most analysts believe “quasi-nationalisation” is inevitable, the paper adds.

Read more from Jon Ihle in today’s Sunday Business Post >

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Hugh O'Connell

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