STOCKHOLM Icelandic bank Kaupthing KAUP.IC
said on Friday it had sold its operation in the Faroe Islands
to Eik Banki P/F FO-EIK.CO.
Kaupthing did not give any financial details of the sale,
but said its Faroe Islands unit had 30 employees and that the
disposal would have an insignificant effect on its operations
and balance sheet.
The Icelandic bank has expanded aggressively over the last
few years, buying targets in Holland, Denmark, Britain and
(Reporting by Simon Johnson, Editing by Erica Billingham)