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Síminn ltd. sold - Telecom privatization completed

Síminn ltd. sold - Telecom privatization completed

September 7th 2005

The former state owned telephone company Síminn ltd. – the incumbent actor in fixed and mobile networks in Iceland - has been sold for 67 billion ISK (a little over 1 billion USD) to a multitude of investors gathered under the name Skipta ltd. An agreement on the sale was signed August 5th 2005. The privatization has been under way for years. A spread ownership was a condition for the sale and the new owners consists of privat companies, banks and funds. A share of the payment is assigned for implementation of a new telecom policy statement for 2005-2010.

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