Michael Noonan moves closer to triggering AIB flotation

Minister may brief Cabinet on matter next week with sale likely to take place end of June

Noonan may discuss the decision with cabinet as soon as Tuesday, with an announcement possible on Wednesday. Photograph: Alan Betson

Noonan may discuss the decision with cabinet as soon as Tuesday, with an announcement possible on Wednesday. Photograph: Alan Betson

 

Minister for Finance Michael Noonan is moving close to giving the green light to the flotation of AIB, a person familiar with the matter has said.

Mr Noonan may discuss the decision with Cabinet as soon as Tuesday, with an announcement possible on Wednesday.

The sale would take place towards the end of June, after the UK election. However, no final decision on the timing has been made.

Another individual familiar with the matter said a court case seeking to prevent the sale could delay the process.

A spokesman for the Department of Finance said the window for the IPO was from mid-July or the autumn.

– (Bloomberg)