Reports in the local media suggest that the Icelandic Government's indirect 57.2 per cent stake in local mobile operator Vodafone Iceland could be sold in the near future. Foroya Tele, the largest telecommunications company in the Faroe Islands, is reported as the most likely buyer.
Despite its name, Vodafone Iceland is not part of the Vodafone Group. Icelandic company Teymi franchises the brand name and associated advertising styles from Vodafone. The operator was formerly known as Og Vodafone, changing to its present title in 2006.
The Icelandic Government acquired its stake following the nationalisation of collapsed banking group Landsbanki.
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