Denis O'Brien has been reported as the 'unnamed businessman' that the IBRC was allegedly ordered not to sell to.

The bank's former Chief Executive Mike Aynsley told the Banking Inquiry during the week that the Department of Finance wanted a hypothetical bid for a major asset overlooked.

While the media magnate was not identified during inquiry evidence, the Sunday Business Post says he is identified in an email between Mr Aynsley and Tom Hunerson, then head of corporate and institutional recovery at IBRC.

The paper reports that petrol station chain Topaz, of which Mr O'Brien is a shareholder, is the likely asset in question.

Aynsley told the inquiry that a Department of Finance official said it would be preferable to sell to another bidder, even if O'Brien made a hypothetical bid of €100m more, and that this would be satisfactory to Minister for Finance Michael Noonan.