Reykajvik (IFN) Landsbanki Islands' sale of its 19.8% stake in Swedish investment bank Carnegie "is very positive news," said David Rudolfsson, analyst at Kaupthing Bank.
Landsbanki appointed Deutshce Bank to sell the stake, with the German bank placing the shares in the market late on Wednesday.
"It shouldn't come as a surprise, because taking the recent negative sentiment against Icelandic banks in account, it's been clear that growth won't be very heavy this year," Rudolfsson said.
He added that without being able to acquire Carnegie, selling out was a very good option considering current Carnegie share price levels.
Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.