Irish Bank Shares Fall On Report Govt To Up BoI Stake - WSJ.com

Irish Bank Shares Fall On Report Govt To Up BoI Stake - WSJ.com: "Irish bank shares continued to slide Wednesday on mounting expectations that the Irish government is likely to take a majority stake in the Bank of Ireland (BIR.DB) as part of a rescue package worth close to EUR85 billion from the European Union and the International Monetary Fund.
At 0840 GMT, shares in BoI were down 10% at EUR0.27. Allied Irish Banks PLC (AIB), whose government ownership will rise to around 95% after a planned rights issue, was down 19% at EUR0.27.
Irish Life & Permanent (IL0.DB), which so far hasn't received any state aid, fell 0.4% to EUR0.75.
The Irish ISEQ Financials index has fallen around 36% since Friday.
A majority stake in the BoI would leave Ireland without a significant lender free of state control."

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