Polish state bank bids for AIB unit

POLAND is set to back a bid by the state-controlled lender PKO to buy the Polish operations of AIB, a government minister said.

Such a move could damage the Irish bank’s chances of getting the best price for its business, which it needs to sell by the year end.

AIB has to raise at least €7.4 billion by the end of the year to prevent the Government taking a majority stake in the bank.