Is AIB ready to float?
It was nationalised. It has been bailed out by the taxpayer. It has been streamlined. Now the government wants to offload some of its majority stake.
Some €20.7 billion. The staggering cost of bailing out AIB. It is a colossal sum of money – the equivalent of the annual budget of the HSE and then another 50 per cent. Even by the standards of global bank bailouts it is big – more than the combined bailout cash received by Goldman Sachs and Morgan Stanley. And second only to the €29 billion that has been swallowed by the now defunct Anglo Irish Bank.
However, next week, the...
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