AIB restructuring to be approved

Allied Irish Banks is set to win European Commission approval for a restructuring plan tied to its €21 billion taxpayer rescue, according to two people with knowledge of the matter.

The final verdict on the bank’s plan will be released as early as today, said the people, who asked not to be identified, as the matter is private.

Officials from AIB, the European Commission and Government, which owns 99.8% of the bank, declined to comment.