June 15, 2020 / 12:09 PM / 18 days ago

Ireland will sell bank shares when price improves - draft government plan

DUBLIN, June 15 (Reuters) - The policy programme agreed by Ireland’s Fianna Fail, Fine Gael and Green Party says the state should not sell its shares in the country’s banks until it is likely to recoup a significant portion, if not all, of its investment, a copy of the document published by the Irish Times showed.

Ireland holds a majority stake in Allied Irish Banks and permanent tsb, and a minority holding in Bank of Ireland, the three domestically owned lenders to survive a banking crash a decade ago. The value of the banks’ shares have fallen significantly in the past two years. (Reporting by Padraic Halpin and Conor Humphries; Editing by Alison Williams)

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