Dempsey was ‘unconvinced’ ESB move for Viridian made sense

THE ESB’s ambitions to take over Belfast-based energy company Viridian may be resurrected if Arcapita, the Bahrain venture capital group, decides to sell on the business at a later date.

Reliable sources have told the Irish Examiner that the ESB’s failure to proceed with a bid for the group early last month was because Communications Minister Noel Dempsey was unconvinced that the deal made sense.

It was alleged the minister failed to understand the dynamics of the ESB bid and the proposal never even got to the board for consideration.