0823 GMT - The Irish state should return AIB Group to private ownership within a few months, analyst John Cronin of Seapoint Insights says. The announcement of an off-market 1.2 billion euro buyback will cut the government's stake to 3.3%. The state could retrieve the full 20.8 billion euros it invested in the bank when it bailed it out, he notes. "There had been much speculation in the market as to whether this directed buyback would take place given that the share price has been trading below the level at which the buyback will be executed," Cronin says. The small 1% difference was minor, so shareholders likely welcome the state's swifter exit, which will lead to the normalization of returns. Shares rise 1.2% to 6.275 euros. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 04:23 ET (08:23 GMT)
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