Vol. 444 No. 7
35 Mr. Broughan asked the Minister for Finance if he intends to sell TSB Bank through competitive tender; if he is seeking valuations of ICC and ACC banks also; and the proposals, if any, he has regarding the third force option.
As I informed the House in my reply to related questions on 2nd June last, I have obtained Government approval to call on the services of financial consultants to advise me in my examination of the options available to the Government in relation to the future of TSB Bank and of the State banks in general. After studying the consultants advice, I will report to Government who will then have an opportunity to consider the options in detail. Pending that consideration, no useful purpose would be served by speculation as to what the Government might or might not decide.
The terms of reference to which the financial consultants will be working will require the preparation of a valuation of TSB Bank and a basis of valuation of ACC Bank, ICC Bank, and other relevant institutions.
