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Noonan sees no early BoI stake sale

Friday, December 06 12:58:40

The Government does not envisage an early sale of the 15pc equity stake it holds in Bank of Ireland, Finance Minister Michael Noonan said today.

The government sold a 1.8 billion euros preference share in the bailed-out bank on Wednesday, triggering speculation it would turn its attention to selling its ordinary shares in the bank, which have more than doubled in value this year and now worth 1.2 billion.

"We'll hold onto it at the minute," Noonan told reporters in London. "We certainly won't be having any firesales and I don't envisage an early sale."