Iceland is quit in a financial mess. The country is not, yet, part of the European Union and thus no funds where sent. Iceland stayed away from the EU mainly because the country’s fishing laws come in conflict with those of the European Union.

Anyway, it seems that Iceland will join the EU and will receive a few million euros to get back on feet. In the same time the Icelandic government tries to do whatever it can to reduce the effects of the economic crisis.

The government’s indirect 57.2% in Og Vodafone fill be sold most likely to Foroya Tele. Well, Iceland’s Vodafone is not exactly Vodafone. The company carries the Vodafone brand and trademark, but Vodafone Group owns no interest in the company.

Anyway, Vodafone Iceland offers mobile, fixed-line and ADSL internet services to individuals and companies, writes Cellular News. The 57.2 percent of Vodafone is owned by the company after it nationalized the collapsed banking group.

The largest telecommunications company in the Faroe Islands, Foeroya Tele, is very likely to buy the Icelandic government’s share of Vodafone.