State coffers are bursting, so a deal for lender is only attractive if it is at the right price
PTSB is continuing to engage with all parties
The stock market responded surprisingly warmly to news that Austria’s Bawag has, finally, been revealed as a potential buyer of PTSB.
Shares rose after both banks confirmed the news, in response to an earlier article in Austrian newspaper Die Presse. That was despite the fact that the article suggested the Austrian lender’s offer will value the Irish bank at just €2.94 per share, or €1.6bn.
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