ESB may acquire power network

THE ESB is in exclusive talks to buy the power network owned by the Viridian Group in Northern Ireland.

While the ESB has refused to comment on the potential €1.4 billion (£1.2bn) offer Viridian confirmed yesterday in a statement it was in exclusive talks over the sale of its subsidiary, Northern Ireland Electricity.

The talks “may or may not lead to a transaction,” the Belfast-based group said.