Rochester,NY 8/19/2009 1:26:05 AM
Canadian Imperial Bank of Commerce (USA).,CM-CIBC Speculation on Allied Irish might contain Substance
Canadian Imperial Bank of Commerce (USA)
Speculation that Canadian Imperial Bank of Commerce might have been in talks to purchase a stake in Ireland’s second-biggest lender may have merit, BMO Capital Markets analyst Ian de Verteuil said.
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Allied Irish Banks Plc got an approach from an unidentified third party seeking to take a minority stake, the Dublin-based bank said Aug. 14. Dublin-based broadcaster RTE and the Sunday Business Post said CIBC, Canada’s fifth-biggest bank, may be interested in a possible investment in Allied Irish, citing unidentified people.
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