Ásar and Sýn end talks over media acquisitions without deal

Ásar and Sýn have ended negotiations over the proposed purchase of Sýn’s web and radio media without completing the transaction, mbl.is reported. María Björk Einarsdóttir, Ásar’s chief executive, said the companies had spent recent months conducting due diligence and holding talks in line with plans announced in March.

“It is naturally not a given that negotiations on a purchase will end in a sales agreement, but the substantive details of the process are confidential and will not be discussed further,” María Björk said in a statement. She thanked Sýn’s board and management for constructive talks and wished them well in their future work.

María Björk said a period of growth lay ahead for Ásar. A shareholders’ meeting on Thursday approved changing the group’s name to Ásar hf., while Greiðslumiðlun Íslands formally became part of the group in July, creating opportunities in combined financial technology operations.

The proposed acquisitions of Opnir kerfi and Öryggismiðstöð Íslands are also being reviewed by the Competition Authority.

María Björk added that despite the group’s significant growth, Síminn’s operations, brands and services remained unchanged. Síminn will mark its 120th anniversary this week with celebrations of its long history of developing and operating telecommunications infrastructure in Iceland.