Vodafone Iceland gains approval to acquire 365

Tuesday 10 October 2017 | 12:39 CET | News

Fjarskipti, which trades under the Vodafone Iceland brand, said the Competition Authority has agreed to its acquisiton of media company 365 with the exception of newspaper Frettabladid and the magazine Glamour. Vodafone Iceland and 365 had agree to the takeover without Frettabladid and Glamour on 14 March 2017. The deal is expected to reach completion on 01 December.

The combined revenue of the merged company be ISK 22 billion per annum with ISK 5 billion in eBITDA. The new company will be the leading telecommunications and media company in Iceland, with a staff of over 500 employees.

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