Virgin interested in Allied Irish
Richard Branson’s Virgin Money is said to have made an informal approach for the British branches of the beleaguered Allied Irish Bank. Virgin Money could acquire the bank’s 32 outlets as part of its efforts to build a large branch network within five years. AIB refused to comment on any of its ongoing asset sales, which are part of an attempt to plug a €7.4bn (£4.9bn) shortfall in its reserves. Virgin is reportedly not interested in the Northern Irish branches.