Irish Banks on Takeover radar
Posted on | August 14, 2009 | No Comments
I see that a Canadian bank is in discussions with AIB (http://www.rte.ie/news/2009/0814/aib.html)
It is unsure whether the bank is interested in the whole group or just the US business. If it were interested in the whole group, this could have very significant consequences.
Not least, this could have implications for NAMA. We have seen how the dutch owned ACC Bank have remained outside of NAMA and are effectively working against NAMA by instigating proceedings to get these toxic assets off their books. How would a new owner of a large Irish bank view the workings of NAMA?
However, it’s would not the first time the irish business media have presented red herrings of this type to us, so we’ll just have to wait a little longer to see if this unnamed bank comes forth
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