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Tue 11 Nov 2009State may take 60% in merger, says EBS chief
THE GOVERNMENT could end up with a stake of as high as 60 per cent of a larger mutual comprising the Educational Building Society (EBS) and Irish Nationwide Building Society, according to EBS chief executive Fergus Murphy.
Mr Murphy said that a deal may be agreed early next year and that the Government may take a stake of between 40 and 60 per cent in return for a State capital injection of up to €400 million in the enlarged building society.
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