Nordic Business Report-September 8, 2006-Iceland's Landsbanki linked to Irish Nationwide
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Iceland's Landsbanki has been mentioned as a potential buyer of Irish Nationwide Building Society, according to market sources.
Irish Nationwide has confirmed the company is for sale. It is estimated to be worth around GBP1-1.5bn.
The rumours have not been confirmed, but Landsbanki is mentioned because the bank acquired a controlling stake in Irish stockbroking and corporate finance firm Merrion Capital last year, market sources told Icelandic Financial News (IFN).
However, Landsbanki has said that it has no large acquisitions planned in the near future.
Analysts believe that Danske Bank is likely to bid for Irish Nationwide, but the Danish bank acquired the Irish assets of National Australia Bank in a EUR2bn deal last year.
One euro (EUR) is worth approximately 0.67 British pounds (GBP).
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