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Abbey shares up after formally rejects Bank of Ireland approach.

Europe Intelligence Wire

| August 10, 2002 | COPYRIGHT 2002 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From FT Investor (Pulses))

Abbey National on Tuesday rejected an informal approach from Bank of Ireland, arguing that it undervalues the UK's second biggest mortgage lender. Abbey National said the most effective means of restoring value to shareholders at this time will be to achieve the operating and structural changes ...

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