BoI in talks over bid to raise €2.7bn

BANK OF IRELAND has entered talks with a number of potential investors, with a view to meeting its€2.7 billion capital requirements.

The bank said that – whatever the outcome – it still expects the Government to remain only a minority shareholder in the company.

In a statement, Bank of Ireland said any deal could come via a number of options including a rights issue, a firm placing to institutional investors, a conversion of part of the Government’s 2009 preference shares into ordinary shares and “selective liability management”.