Allied Irish Banks Plunges After Report of Nationalization
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Allied Irish Banks Plc fell as much as 16 percent in Dublin trading following a newspaper report that Ireland’s government may use new powers to take full control of the lender as early as this week.
Allied Irish fell as much 7 cents to 38 cents, the biggest decline since Nov. 24, after the Sunday Business Post said yesterday that the state may take the lender off the stock exchange, without citing anyone.