Anglo in August bid for Quinn

Anglo Irish Bank will tell Ireland’s Financial Regulator its plans for taking over Quinn Insurance by "mid to late-August", the Irish Independent reports.

Anglo has been exploring mounting a bid for Quinn Insurance on its own, or linking up with an established insurance player for a joint bid.

The plans will be submitted to the Financial Regulator, before being sent forward to the Department of Finance and the insurer's administrators.

Quinn Insurance's full-length sales prospectus will be issued to a handful of potential buyers, including Anglo, today.