Allied Irish in frame for Ulster Bank

Friday 10 December 1999 00:02 GMT

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ALLIED IRISH Banks yesterday confirmed that it has put in an indicative bid for Ulster Bank of Northern Ireland, which NatWest is intending to sell as part of the high-street clearer's defence against bids by two Scottish banks. Analysts have pencilled in a price of around pounds 1.5bn for the business.

The AIB bid is seen as a spoiler by Irish Permanent and Bank of Ireland, who revealed last month that they were intending to bid.

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Allied Irish in frame for Ulster Bank

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