No quick sale of Anglo Irish U.S. portfolio: source

DUBLIN Fri Jun 10, 2011 1:42pm EDT

Pedestrians walk past a branch of Anglo Irish Bank in Dublin, September 30, 2010. REUTERS/Cathal McNaughton

Pedestrians walk past a branch of Anglo Irish Bank in Dublin, September 30, 2010.

Credit: Reuters/Cathal McNaughton

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DUBLIN (Reuters) - Anglo Irish Bank ANGIB.UL will not rush through a sale of its portfolio of U.S. commercial real estate loans, a market source said on Friday.

"They will take advice on how to optimize the value of the portfolio. There will not be a quick sale," the source told Reuters.

Earlier a Wall Street Journal report said that the nationalized lender would sell the entire $10 billion portfolio, as early as this month at a discount to face value.

Anglo Irish hired Eastdil Secured LLC this month to advise it on the sale of its U.S. portfolio.

(Reporting by Carmel Crimmins; Editing by Greg Mahlich)

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