Iceland Mag

4 Reykjavik

Iceland Mag


UK based hedge-fund buys stake in one of Iceland's largest media and telecommunications firms

By Staff

  • Vodafone main office in Reykjavík The telecommunications giant has recently taken a leap into media. Iceland Magazine is one of the news outlets now owned by Vodafone. Photo/Vodafone.

The UK based hedge fund Lansdowne Partners has bought a 6.05% stake in Fjarskipti hf, one of the largest media and telecommunications firms in Iceland.

A telecommunications and media giant
Fjarskipti owns the telecommunications company Vodafone Iceland. Vodafone Iceland recently bought most of the operations of the media conglomerate 365, including the largest privately operated TV station in Iceland, Stöð 2, several radio stations as well as the news sites Vísir and Iceland Magazine. The sale of the 6.05% stake in Vodafone to Lansdowne was announced only a day after regulators approved the media purchase by Vodafone.

According to Vísir Lansdowne Partners paid 1.1 billion ISK (10.6 million USD/8.9 million EUR) for the Vodafone stake. Other major shareholders in Vodafone are the Icelandic pension funds, as well as the chairman of the board of Fjarskipti. 

Lansdowne Partners has reportedly been looking for investment opportunities in Iceland since the capital controls put in place after the collapse of the banking system in 2008 were lifted. What draws Lansdowne to Iceland are high economic growth and exciting opportunities thanks to growing tourism.

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