Allied Irish in frame for Ulster Bank

ALLIED IRISH Banks yesterday confirmed that it has put in an indicative bid for Ulster Bank of Northern Ireland, which NatWest is intending to sell as part of the high-street clearer's defence against bids by two Scottish banks. Analysts have pencilled in a price of around pounds 1.5bn for the business.

The AIB bid is seen as a spoiler by Irish Permanent and Bank of Ireland, who revealed last month that they were intending to bid.