Feeds

Reykjavik nets €0.8bn in Iceland Telco sell-off

Gifts for everyone

Protecting users from Firesheep and other Sidejacking attacks with SSL

The Icelandic Treasury has received ISK66.7bn (€0.8bn) in cash for the sale of Iceland Telco to a group of local investors.

The big pile of cold hard moolah is the highest one time payment that the treasury has ever received, according to the Icelandic National Broadcasting Service (RÚV). The ISK34.5bn was paid in Icelandic króna and ISK32.2bn in foreign exchange.

The government intends to pay back most of its foreign loans, purchase a vessel and an airplane for the coast guard, put money into housing for the mentally ill and invest in transportation infrastructure projects and the construction of a "high tech hospital", which will begin in 2008. A communication fund will receive ISK2.5bn to build up the GSM system in rural areas.

An earlier attempt to sell off the company was scrapped over a conflict of interest between the CEO and some of the potential buyers. The CEO was fired.®

Choosing a cloud hosting partner with confidence

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.