Allied Irish Banks Opens Sharply Lower on Irish Government’s

Allied Irish Banks (AIB) has plunged out of the gate, shedding one-fifth of its market value, as the Irish government seeks approval of a euro3.7 billion cash injection into the bank. The infusion of cash would leave the government with a more than 90% stake in the bank, according to the Irish Times. Allied Irish Banks is down over 20% early Thursday on the news, to a price of $0.87 per share.

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