A spokesman for Irish Nationwide says it has no comment to make on a report that Quinlan Private and Halifax have teamed up with a view to launching a €1 billion bid for the building society.
Quinlan has also declined to comment on the Irish Times report which, if true, would be its first foray into banking. It is best known for acquiring hotels and other commercial property. Halifax, a subsidiary of Halifax Bank of Scotland (HBOS), also said it had no comment.
The Nationwide would have to demutualise before any sale could happen and the society is keen to pursue this avenue once the price is right.
It has been suggested that the society, headed by Michael Fingleton, has a minimum price tag of €1.5 billion.
Some 100,000 members of the society would receive a windfall - in the past estimated at up to €12,000, on the Nationwide's being sold to a third party. This is because their status would have changed from from members to shareholders.
While the Nationwide is a mutual - owned by its members - it has forged big deals with some of the larger players in the commercial property world.
