Irish An Post names preferred joint-venture partner
An Post has submitted the name of a preferred partner for its planned financial services joint-venture to the department of communications. It hopes to have approval and sign-off for the new business before Donal Curtin, the chief executive, leaves the company this July. GE Money, the giant US services group, is regarded by industry insiders as the lead candidate for the venture. But the identity of the preferred partner is being closely guarded. A total of four banks submitted proposals for the joint venture late last year. It is understood that Allied Irish Banks was also on the shortlist. A spokesperson for An Post said the company would not comment on the process as it was still going on. It is believed, however, that departmental approval will trigger talks on the finalisation of a deal.
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