Sunday, December 27, 2009

Govt. Takeover of AIB & Bank of Ireland?

From the Sunday Business Post:
The Government is reportedly preparing to take a significant stake in both AIB and Bank of Ireland.

According to the Sunday Business Post, it will do this by converting some of it's preference shares in the banks into ordinary shares.
The move is expected in the New Year as part of a programme to recapitalise the two main banks.