"In 2013, the Irish government gave away Irish Life for a bargain-basement price, allowing Great-West Lifeco to reap billions in dividends."
"History appears to be repeating itself as Finance Minister Simon Harris agrees to sell PTSB at another knock-down price to Bawag."
In 2013, the Irish government sold Irish Life to Great-West Lifeco at a significantly low price, allowing the buyer to gain substantial dividends. A similar situation is occurring now with the sale of PTSB, the former sister bank of Irish Life, to Austrian bank Bawag. This transaction is also at a reduced price, suggesting that Bawag may benefit greatly from the acquisition, mirroring the previous sale's outcomes.
Read at Independent
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