As we reported yesterday (Iceland Review, Daily News, June 8, “Showdown at Íslandsbanki?”), two factions have been fighting for control of Íslandsbanki. Parties affiliated with Landsbanki have been seeking to wrest control from a block of shareholders that support the current management.
A block of 4 per cent of the Íslandsbanki owned by Steinunn Jónsdóttir was put in play recently, and today the media report that Burðarás, an investment bank controlled by Landsbanki, has secured those shares.
There are conflicting reports in the media today as to whether or not this change of ownership tilts the balance from the incumbent majority to the marauding Landsbanki. We will report further tomorrow when dust has settled a bit, we hope.
