Thursday April 9, 2020


The Bank of Ireland rights issue is being sold as a good deal for the beleaguered taxpayer, but it remains to be seen who will really end up benefiting from it

1st May, 2010

Complexity is your friend - at least, if you’re a minister for finance who would rather not take control of a bank that is trying to raise €3.4 billion, despite being valued at just €2billion. Bank of Ireland’s recapitalisation deal, unveiled last week, offers bewildered bank shareholders and taxpayers a masterclass in complexity.

The outcome of the capital raising will, however, be relatively straightforward. Unless the bank’s existing shareholders throw...

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