Irish State May Seize Full Control of AIB This Week, Post Says
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Ireland may use new powers to take full control of Allied Irish Banks Plc as early as this week and will probably delist the lender, the Sunday Business Post said, citing unidentified people in the government.
The nationalization of AIB may be delayed if President Mary McAleese decides to send banking legislation, passed through parliament last week, to the Supreme Court for review, the newspaper said. The mechanism for injecting funds into the bank and the state’s total stake in the Dublin-based lender haven’t been decided, the Business Post said.