Kaupthing _ Icelands Biggest Bank Nationalised
Published / Last Updated on 08/10/2008
Kaupthing - Iceland’s Biggest Bank Nationalised
Iceland took more measures today to nationalise its third, and biggest bank, Kaupthing and suspended trading with immediate effect to protect its investors.
At the same point, UK Authorities moved to put Kaupthing’s UK operations into administration as did the Isle of Man for the offshore division.
As it stands at the moment, we believe the UK subsidiary will be protected under British rules and Kaupthing Edge in the UK is being taken over by ING.
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