On Saturday October 19, the Icelandic government’s executive committee on privatization, which operates out of the prime minister’s office in Reykjavik, announced its decision to sell 45.8% of Landsbanki.
The stake in the country’s second-largest commercial bank is set to go to Samson Holding, an investor group whose board comprises three wealthy Icelanders who made their fortune in brewing in Russia: Björgólfur Thor Bjorgolfsson, his father Björgólfur Gudmundsson and their long-standing business partner, Magnus Thorsteinsson.
There are a small number of people in Iceland who question – quietly, given their wealth and influence – whether the father and son are suitable choices to control such a big stake in such an important component of the Icelandic economy.
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