Allied Irish in advanced talks on preference shares-CFO
DUBLIN, Aug 7 (Reuters) - Allied Irish Banks is in advanced talks with regulators and the government on reorganising its capital structure, including how much the state can redeem of the 3.5 billion euros of preference shares it owns in the bank.
"The last leg of it (the negotiation) is how do you cut the preference shares, how much redeemed, how much converted to equity, and there will be an element of both. That conversation is advanced with all parties," AIB CFO Mark Bourke told Reuters.
"There is a near-term possibility of giving a large level of capital back." (Reporting by Padraic Halpin; editing by Jason Neely)