Icelandbanki Chief Won't Predict Skaga Merger Odds

The CEO of Íslandsbanki states he does not want to "put any percentages" on the likelihood that the proposed merger with Skagabyggð will be completed, although discussions are still ongoing. He described the possibility as "quite likely" but emphasized that there appears to be limited willingness among shareholders for the transaction to proceed exactly as originally agreed upon last year. The bank’s equity, after accounting for planned share repurchases and dividend payments to shareholders, is currently estimated at just under 50 billion Icelandic krónur. In recent weeks, the bank’s largest foreign investor has reduced its ownership stake by approximately one-fifth. This reduction coincides with extensive repurchase programs of the bank’s own shares, which have been actively carried out over an extended period. Innherji is an independent subscription-based news outlet featured on Vísir. It offers in-depth reporting on business and economic matters from seasoned financial journalists. Readers seeking comprehensive coverage of Iceland’s financial sector can subscribe directly through Innherji’s platform. Subscription options are available for both individual readers and corporate accounts. Existing subscribers can log in using their digital credentials to access full content.