10/06/2014
US Investor Sells Bank of Ireland Shares
The share price of Bank of Ireland has fallen 5% following the news that US billionaire Wilbur Ross has sold his 5.5% stake in the bank.
Mr Wilbur, who's money helped the bank avoid a state rescue amid the financial crisis, has insisted that the sale of his shares is not a "negative comment" on the bank.
Despite this shares in the bank dropped 5% following the announcement.
Mr Wilbur is also stepping down as director at the bank.
It is understood that the US investor has made several hundred million in profit on his orginal £242m investment.
(MH)
Mr Wilbur, who's money helped the bank avoid a state rescue amid the financial crisis, has insisted that the sale of his shares is not a "negative comment" on the bank.
Despite this shares in the bank dropped 5% following the announcement.
Mr Wilbur is also stepping down as director at the bank.
It is understood that the US investor has made several hundred million in profit on his orginal £242m investment.
(MH)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
