Vodafone Iceland to sell and lease back its passive infrastructure

Vodafone Iceland (registered as Syn, previously Fjarskipti) has reached an agreement with foreign investors on the main terms and conditions for a potential sale and a 20-year leaseback of passive mobile phone infrastructure. The operator said in a press release: ‘The agreement does not imply any obligation or guarantee that the transaction will take place, and it is subject to due diligence and possible involvement of regulatory bodies. There is therefore still considerable uncertainty as to whether and when the transaction will take place.’ If completed, the transaction is expected to result in a capital gain of over ISK6 billion (USD42.9 million).