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Anglo Irish Bank shares suspended

Anglo Irish Bank shares suspended

Anglo Irish Bank share trading was suspended Friday after the Irish government announced it was nationalizing the troubled lender.
The government took over Anglo Irish late Thursday, saying an earlier plan to inject money into the troubled lender was not enough to secure the future of the company.
The bank was caught up in a scandal last month involving loans that were not fully disclosed.
The specialist lender was heavily exposed to the property and construction markets. The Irish economy in general has been hard hit by the subprime lending crisis from the United States.
By the end of last year, Anglo's shares had lost nearly 98 percent of their value from a 2007 peak.


Updated : 2021-10-26 05:18 GMT+08:00