Iceland: TDC might take over Landssimi Islands

Article Abstract:

TDC, the Danish telecom company, has been selected preferential buyer of Landssimi Islands, the telecom monopoly in Iceland. By the beginning of 2002, the privatisation committee will begin negotiating exclusively with TDC. In early December, TDC made a bid for a 25% stake in Landssimi Island, as well as the American venture fund US Providence. If the negotiations are successful, TDC will not only acquire a 25% stake, but also obtain an option for further 10%. Landssimi Islands had a DKR 49m (USD 5.9mn) pre-tax profit out of a DKr 666mn turnover in the first six months of 2001.

Terminal Data Corp. (Moorpark, California), TERM

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Denmark: TDC to place a bid for Icelandic telecoms firm

Article Abstract:

TDC of Denmark has made a bid to acquire a 25% stake worth DKr825mn (US$99mn) of the shares in Landssimi Islands, the former Icelandic telecoms monopoly.The company has a market value of DKr3.3bn. The Icelandic state is to sell off more of its shares in the telecoms company under the biggest privatisation deal ever in Iceland. Apart from TDC the venture fund U.S. Providence, which is the main shareholder in Irish Eircom, has placed a bid for the shares.

Acquisitions & mergers, Denmark, COMMUNICATION, Communications, Broadcasting and Telecommunications, TDC A/S

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ICELAND: LANDSSIMINN TO BE PRIVATIZED

Article Abstract:

Landssiminn, the Icelandic telecom, is to be privatized. The state-owned company became an independent limited company by the beginning of 1998, and the telecom market in Iceland has to be privatized as a consequence of the EFTA treaty with the EU. Tele Danmark, the Danish telecom, is interested in acquiring the company, but negotiations have not yet started. Turnover of Landssiminn totals DKr 275mn (USD 37mn).

Organizational history, Tele Danmark Datacom, Landssiminn

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