Enter multiple symbols separated by commas

Ross: Bank of Ireland is 'on the right track'

Wilbur Ross
Jonathan Alcorn | Bloomberg | Getty Images
Wilbur Ross

U.S. billionaire WilburRoss, who has decided to sell his 5 percent stake in Bank of Ireland to reduce the concentration of his holdings in the banking sector, told Reuters he believes the bank is "on the right track."

This is "definitely not a negative comment on BoI or Ireland. Both are clearly on the right track," Ross said in an emailed message after Deutsche Bank announced it was to sell Ross's stake.

"Some of our other holdings have trading restrictions so this was the logical choice," he said. Fellow shareholder Fairfax Financial "was aware of the trade but did not participate in it," he said.

Read MoreWhy I'm ready to invest more in Europe: Wilbur Ross

He said an EU rule that prohibits bank board members from serving on more than three other boards was also a factor.

—By Reuters

Contact World Markets


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

World Economy

  • Shoppers look at a display of shoes and handbags at a store in Kuala Lumpur, Malaysia.

    Consumers in Southeast Asia remain the most upbeat globally, but external and domestic fears may be dampening their optimism, according to Nielsen.

  • A file photo shows an Iranian worker at the South Pars field in the southern Iranian port town of Asaluyeh.

    The Iran nuclear deal could help stabilize oil prices and even give them a boost, says Nasdaq's Tamar Essner. But here's what has to happen first.

  • An investor observes an electric screen at a stock exchange hall on July 28, 2015 in Hangzhou, China.

    The recent gyrations in China's stock market will have limited direct impact on global investors.