Recovering €29bn bailout from banks not 'over-riding' issue in AIB shares sale, McGrath told

Finance minister told 'political conversations' about another sale should take place but as long as these did not include a specific date they were not considered sharing 'inside information'

Michael McGrath was told it was key to keep reducing the State's exposure as an AIB shareholder.

Officials told the finance minister that recovery of the full €29bn the State used to bail out three surviving banks should not be the “over-riding consideration” as the Government looked to sell down more of its stake in AIB.

Ahead of the latest share sale of the bank earlier this month, a submission for Michael McGrath said the State had been a shareholder in AIB for 13 years and that it was key to keep reducing its exposure.