‘Third force’ would push IL&P up

IRISH Life & Permanent (IL&P) could see its share value significantly increase, potentially up to €10 per share, if its banking arm Permanent TSB merges with EBS and the Irish Nationwide Building Society (INBS) next year.

This would form the much-mooted so-called third force in Irish banking.

That is the view of Davy Stockbrokers, which published a lengthy report supporting such a move yesterday.