Ireland has begun the process of putting together a syndicate of investment banks in readiness for a possible offer of shares in state-owned lender Allied Irish Banks but the government said the move did not mean it had a specific timetable in mind.
Finance Minister Michael Noonan said last week he was holding open the possibility of selling a 25 percent stake in AIB next year, subject to market conditions.
Earlier this year Dublin postponed its plan to recoup some of its 21 billion-euro investment in the 99 percent state-owned bank to 2017.
"While there is no fixed timetable for a sale at this time ... this appointment (of the banks) is a necessary next step in order to provide the state with the option to sell some of the state's shareholding in AIB during 2017 or indeed early 2018," Noonan said in a statement.
The department of finance will select the global sale coordinators for an 18-month period, which could then be extended, the statement said.
"The ultimate decision will be subject to a range of factors including prevailing market conditions," Noonan said. (Reporting by Conor Humphries; Editing by Greg Mahlich) reuters
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