Bank of Ireland says has received approaches

* BoI says approaches are unsolicited

* No decisions taken yet

* BoI shares up over 20 pct at 1254 GMT

* IL&P says in talks with EBS building society

(Adds IL&P in talks with EBS)

By Jonathan Saul and Andras Gergely

DUBLIN (Reuters) - Bank of Ireland (BKIR.I) has received unsolicited bid approaches from unnamed groups, it said on Friday, lifting its shares over 30 percent as speculation grew over government plans for consolidation in the sector.

Separately, Irish Life & Permanent (IPM.I) said it had been in discussions with the EBS building society over how the two "might work together in the current market environment."

Ireland was one of the first countries to respond to the credit crisis with a guarantee for bank liabilities worth some 440 billion euros ($550.9 billion), but it has not bailed out or nationalised any banks and they have not raised equity themselves.

Banks have been under growing pressure to shore up their capital to match European peers. Exposure to a falling property market has hit investor sentiment and shares in the four listed banks have fallen over 90 percent from highs set last year.

Bank of Ireland said it had received unsolicited approaches from a number of unnamed parties seeking to invest in the group, Ireland's second-largest bank by market capitalisation.

"No decision on these approaches has been made. Bank of Ireland will keep its stockholders informed as appropriate," it said.

"SHARP SUITS WITH MONEY"

Shares in Bank of Ireland were last trading 20.8 percent higher at 1.22 euros by 1254 GMT.

"The rumour mill in Dublin has gone into overdrive," said Davy analyst Scott Rankin. "There are stories of gangs of sharp-suited investment bankers/private equity guys hanging around Dublin hotels."

Irish Finance Minister Brian Lenihan said on Thursday he was determined to reform the banking sector, but would not comment on reports of an impending recapitalisation plan which could include pushing through bank mergers.