ICA approves the sale of Vodafone, Nova passive infrastructure

29 Nov 2021

The Icelandic Competition Authority (ICA, known locally as Samkeppniseftirlitid) has given its unconditional approval to the sale of Syn (Vodafone Iceland) and Nova’s passive mobile infrastructure to ITP ehf, itself controlled by US fund management company Digital Bridge Group (formerly Colony Capital). In order to approve the deal, the ICA requested information on Digital Bridge’s collaboration with Ardian, a prospective buyer of Mila (Siminn’s infrastructure company), though according to both companies there is ‘minor collaboration and a small ownership relationship, as Ardian has a negligible share in the projects in which both companies have invested’.

TeleGeography notes that in March 2021 Icelandic telecoms/media company Syn signed agreements relating to the sale and leaseback of passive mobile infrastructure to unnamed at the timr international investors for a profit of over ISK6 billion (USD47 million). The terms include a long-term lease agreement which will guarantee Syn’s access to the passive mobile infrastructure, while all active mobile equipment will be owned and operated by it.