Allied Irish Bank (AIB -3.7%) plans to sell its 22% stake in M&T Bank (MTB -4.2%) in a...

|About: Allied Irish Banks, P.L.... (AIBYY)|By:, SA News Editor

Allied Irish Bank (AIB -3.7%) plans to sell its 22% stake in M&T Bank (MTB -4.2%) in a public offering. The decision to sell the stake, currently valued at around $2.2B, follows last week's announcement by Irish regulators that AIB would need an additional infusion of €3B ($4.16B).