Deals
Ireland to Take Control of AIB By Yearend, Independent Says
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Allied Irish Banks Plc will be "effectively nationalized" by the end of the year, the Sunday Independent reported, without citing anyone.
Even after asset disposals and a share sale, the Department of Finance expects that the lender won’t have enough capital by December to meet funding rules set by the regulator, the newspaper said. The state will transfer preference shares into ordinary shares to meet capital reserve rules, increasing its stake in the bank "substantially," the Independent said.