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Fri 11 Nov 2008Equity group declares interest as Lenihan expects banks to merge
A MULTIBILLION euro consortium of US-led private investment firms has expressed an interest to the Government in taking a large stake in Bank of Ireland (BoI) and possibly a merged group comprising BoI and Irish Life Permanent (ILP).
The interest emerges as Mr Lenihan signalled in discussions with the chief executives and chairmen of the six guaranteed banks and building societies that he expects mergers between institutions in a move that will dramatically reshape the Irish financial sector.
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