The Icelandic Competition Authority clears a joint venture in the retail electricity market subject to remedies, including the divestiture of a strategic stake (Landsvirkjun / Orkusalan)
The operation
On 22 August 2006 the ICA was notified that Orkusalan had been founded by RARIK (36%), Orkubú Vestfjarda (OV) (36%) and Landsvirkjun (28%). The purpose of the new company was to buy, sell and produce electricity and manage real estate and connected businesses. (para. 2) Landsvirkjun has 80-85% of the combined market in producing and wholesaling of
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