Saturday, October 14, 2006
AIB buoyed by rumours of Citibank interest; Lloyds also considered target – market reports
AIB buoyed by rumours of Citibank interest; Lloyds also considered target – market reports
Story AIB Group, the Irish listed banking company, may be eyed by giant US rival Citibank, according to rumours reported in the Irish Examiner’s market report.
The item said that AIB's shares rose 3% amid the rumours in Ireland on Thursday (12 October) and a further 8c the next day.
Unidentified analysts cited in the report said a Citibank bid for AIB is unlikely as the North American group will have to make a larger acquisition if it wants to please its shareholders. Allied Irish Banks has a current market capitalisation of EUR 18.895bn.
Market reports across the UK press carried stories of Citigroup’s rumoured interest in the UK-listed bank Lloyds TSB. The Financial Times noted that the US firm is looking for a European acquisition. According to a Daily Express item a takeover of Lloyds TSB could be worth GBP 40bn (EUR 59bn). The Guardian said traders believe North Carolina-based Bank of America could be a potential predator.
The Daily Telegraph cited sceptics who believed a leap in the Lloyds TSB share price to be the result of an HSBC upgrade to neutral and an increased target price.
Source Irish Examiner, Financial Times, Daily Express
Story AIB Group, the Irish listed banking company, may be eyed by giant US rival Citibank, according to rumours reported in the Irish Examiner’s market report.
The item said that AIB's shares rose 3% amid the rumours in Ireland on Thursday (12 October) and a further 8c the next day.
Unidentified analysts cited in the report said a Citibank bid for AIB is unlikely as the North American group will have to make a larger acquisition if it wants to please its shareholders. Allied Irish Banks has a current market capitalisation of EUR 18.895bn.
Market reports across the UK press carried stories of Citigroup’s rumoured interest in the UK-listed bank Lloyds TSB. The Financial Times noted that the US firm is looking for a European acquisition. According to a Daily Express item a takeover of Lloyds TSB could be worth GBP 40bn (EUR 59bn). The Guardian said traders believe North Carolina-based Bank of America could be a potential predator.
The Daily Telegraph cited sceptics who believed a leap in the Lloyds TSB share price to be the result of an HSBC upgrade to neutral and an increased target price.
Source Irish Examiner, Financial Times, Daily Express
