Plans to issue AIB shares prospectus given go ahead

Planning for the initial public offering (IPO) of a 25% chunk in AIB was at a late stage when the Government debated the timing for the launch of the €3bn sale.

Already delayed by over a year, the IPO was slated to be one of the largest in Europe for some time and nerves of the expensively hired advisers were jangling.

The decision was taken to delay announcing the start of the sale process until after the French elections. That would avoid the chance far-right contender Marine Le Pen would defy the pollsters and plunge the eurozone into disarray.