European Commission expected to approve Anglo takeover
Monday, August 9, has been set as a deadline for objections to be lodged with Brussels over the joint plan by Anglo and Ulster Bank to take control of the Dublin-based department store retailer, in a bid to recoup combined debts of around €260 million owed to them.
While that figure hasn’t been broken down, it is thought that Anglo is owed the brunt of the money from Arnotts — although the nationalised bank, which itself is controversially receiving more than €22 billion of taxpayer’s money in order to keep afloat, declined to comment yesterday.
