Icelandic Government Looking to Sell Vodafone Stake

The Icelandic government's indirect 57.2% stake in Og Vodafone may be sold in the near future following enquiries from interested parties. The local Morgunbladid newspaper reported that Foroya Tele is the most likely bidder for the stake.

Although the company carries the Vodafone brand and trademark, Vodafone Group owns no interest in the company, but rather franchises the brand and associated advertising styles to Teymi, the company's ultimate owner. Vodafone Iceland offers mobile, fixed-line, and ADSL/ internet services to individuals and companies. Its telecommunications branch is a franchise of the Vodafone network, formerly known as Og Vodafone and from 5 October 2006 as Vodafone Iceland

The Icelandic government owns the stake in the telco after it nationalised the collapsed banking group, Landsbanki which held the stake.

Foeroya Tele is the largest telecommunications company in the Faroe Islands, and a competitor to a local subsidiary of the Icelandic company.

On the web: Morgunbladid

Posted to the site on 11th June 2009