BoI investment talks 'underway'

The Government is in talks with potential equity investors in Bank of Ireland.

A statement issued this afternoon by the Department of Finance confirmed the talks but did not elaborate.

"The State is in discussions with potential equity investors in Bank of Ireland in relation to a possible material investment in the bank. As at the time of this announcement, these discussions continue and may or may not lead to a transaction."

"It is not possible to say anything further at this time in relation to the ongoing discussions."

At an extraordinary general meeting earlier this month, shareholders voiced opposition to the bank’s plan to raise €1.91 billion through a sale of new shares.

Shareholders voted in favour of the 10-cent-a-share offer at the egm after participating in a rights issue of 55 cent a share last year.