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It's common practice seemingly, particularly in the city of London, that finance houses like Goldman Sachs feel that their reputation is enhanced for other work if they're the advisers to sovereign governments for key pieces of work, an IPO for AIB, if we're selling 25 percent of it, would be one of the biggest IPOs ever in the London stock market. So obviously there'd be great attention paid to who the advisers are. There's no commitment at the point of sale that Goldman Sachs would get any additional work.

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Reuters 5 years ago

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