Viridian has made no comment on reports that it is planning to sell its Open+Direct financial services subsidiary for up to £100 million sterling (€157 million). According to weekend reports, Viridian, whose main business is Northern Ireland Electricity, has called in investment bankers CSFB to help sell Open+Direct.

Open+Direct has four businesses - personal finance, vehicle fleet management, property and retail services, and car insurance - and has more than 300,000 customers. Last year, Open+Direct had operating profits of £26 million and accounted for about one- quarter of Viridian's operating profits.