Syn (Vodafone Iceland) has agreed to sell its core network to Icelandic open access infrastructure provider Ljosleidarinn in a deal valued at ISK3 billion (USD21.1 million). In a related development, the two parties have signed a ten-year service agreement, and Ljosleidarinn notes that it has also presented service agreements to rival operators Nova and Farice for consideration. The agreement is subject to financing, due diligence and the approval of the Competition Authority. All measures are expected to be completed by 15 December.
Erling Freyr Gudmundsson, CEO of Ljosleidarinn, commented: ‘Syn has always been one of Ljosleidarinn’s most important customers. With this agreement, an important piece of the puzzle is added to the future vision that we have been working on for several years – to build a new national network and to consolidate the income from that investment.’