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Ireland will not sell any more PTSB shares before election - minister

Reuters

DUBLIN (Reuters) - Ireland has no plans to sell any more shares in permanent tsb (PTSB) (IPM.I) before next year's election and will be in a position to commence a potential sale of Allied Irish Banks (ALBK.I) (AIB) shares in November at the earliest.

The government cut its stake in PTSB to 75 percent in a top-of-the-range public share sale on Monday, prompting some analysts to say it should capitalise on the investor appetite by kicking off a sale of the country's No. 2 lender, AIB.

"It would take at least until November for a sale and that might not even be possible, it's not a free choice of when we do it," Finance Minister Michael Noonan told a news conference, referring to a possible part sale of its 99 percent shareholding in AIB. "I don't think we'll be influenced by the PTSB sale."

(Reporting by Padraic Halpin; editing by Susan Thomas)