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ESB told to sell more

ENERGY group ESB has been told by the Government that it must increase its target for sell-off of power stations.

Initially, €400m was the target for ESB to raise, but now this will be boosted so that some of the company's debts are repaid as part of the disposal plan.

It's being done so the ESB's 'BBB' credit rating is not damaged as a result of the sales. The ESB has debts of €4.5bn.