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PWC to trade in ESB

ACCOUNTING consulting firm Price-Waterhouse Coopers has been appointed as an intermediary for current and former ESB employees to trade their share in the State.

PWC has been selected as a so-called 'grey market operator' to deal in ESB shares.

But full details of the contract have not yet been finalised as the Revenue Commissioners have not yet granted permission for the establishment of the grey market.

The move could allow the trading of shares held by the ESB's Employee Share Ownership Plan which has built up a 5pc stake in the ESB after a series of industrial relations deals.