Irish Prime Minister Brian Cowen said Allied Irish Banks Plc , the country’s second-biggest lender, may need more state support to meet new capital targets.
Ireland’s High Court said Allied Irish Banks Plc can be taken over by the government without shareholder approval as the lender became the fourth bank to fall under state control since 2008.
The Irish government is in talks with Allied Irish Banks Plc that may result in the state taking majority ownership of the company, the nation’s second-largest lender, said two people with direct knowledge of the discussions.
Allied Irish Banks Plc , seeking to raise 10.4 billion euros ($14.4 billion), put plans to sell its U.K. unit “on hold” after failing to get satisfactory offers, Chairman David Hodgkinson said.
"Given the degree of recent price changes and the depressed sentiment in the housing market, we have reduced our forecast for end 2007 house-price inflation."
- Allied Irish on Jun 06, 2007
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