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Mon 11 Nov 2009Irish Nationwide sought tie-up with UK building society giant
IRISH NATIONWIDE, which will shortly need capital to absorb mounting loan losses, approached its namesake, Nationwide Building Society, in the UK in September about making an investment but the approach came to nothing.
Gerry McGinn, chief executive of Irish Nationwide, contacted senior management at Nationwide in the UK about a potential tie-up between the two mutuals, according to sources with knowledge of the society’s approach.
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