Friday 23 February 2018

NAMA boss brands UK rumours of Ulster Bank shares swap as ‘kite-flying’

NAMA chairman Frank Daly
NAMA chairman Frank Daly

The chairman of NAMA has accused UK officials of "kite flying" for a suggestion that his agency could swap its UK loans for shares in Ulster Bank.

NAMA's Frank Daly is "certain" a BBC report last week that UK officials are considering asking Ireland to do the swap was little more than "kite flying" aimed at assessing reaction here to such a proposal, according to Bloomberg.

The BBC report was followed by a front page story in the London Times highlighting the cost to the UK of bailing out Ulster Bank.

 

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