State could make €700m from sale of BOI shares

Minister for Finance, Paschal Donohoe, says there is "no connection whatsoever" with the selling of these shares to the fact that Permanent TSB may need to raise funds to buy loans from Ulster Bank which is leaving the Irish market. Photo: Colin Keegan, Collins Dublin

Ireland is set to potentially earn €700m by selling its 13.9% shareholding in Bank of Ireland.

Finance Minister Paschal Donohoe made the announcement of the "phased exit" from the bank on Wednesday.