AIB shareholders OK €1.2 billion buyback, but board must OK by May 8 amid market volatility.

Allied Irish Banks (AIB) may proceed with a €1.2 billion share buyback after shareholders approved the plan, but the bank's board must decide by May 8th if it's in the bank's best interest. The share price has fallen below the minimum price set for the buyback due to global market volatility. If the buyback goes ahead, it could reduce the Irish government's stake in AIB from 12% to 3%.