EEA and competition in Iceland

Lex Law Offices

Lex Law Offices' practice handles a high volume of merger notifications for large corporations, and also acts in landmark cases before the EFTA, the ICA and the Supreme Court. Practice head Hulda Árnadóttir (whose experience encompasses cases before the Competition Authority, the Icelandic Patent Office and the European Court of Human Rights) is representing MS Iceland Dairies in an abuse of dominance claim against the ICA relating to the pricing of raw milk. In another high-value mandate, Víðir Smári Petersen is representing Reykjavík Excursions in a predatory and discriminatory pricing claim against Isavia regarding compensation for additional tariffs that the client paid for use of a bus facility at Keflavík Airport.

Practice head(s):

Hulda Árnadóttir

Key clients

MS Iceland Dairies

Reginn hf.

Olíuverzlun Íslands hf.

Arion Bank hf.

Kvika Bank hf.

Ferskar Kjötvörur ehf.

Reykjavik Energy

Sjávarsýn ehf.

ON Power

National Power Company of Iceland

Work highlights

  • Advised Kvika Bank, which focuses on asset management and investment services, on the competition elements of its purchase of GAMMA Capital Management, an Icelandic asset management company.
  • Notifying the Icelandic Competition Authority of Mótormax’s purchase of all assets of the bankrupt Bílanaust.
  • Representing Ferskar Kjötvörur in a landmark case with EEA relevance regarding the importation ban of fresh meat into Iceland.


LOGOS' practice acts for major corporations in the shipping, telecoms and pharmaceuticals sectors in competition law claims for substantial damages, and also handles merger notifications and major investigations carried out by the Competition Authority including dawn raids. Practice head Helga Melkorka Óttarsdóttir is a qualified Supreme Court attorney with in-house experience at the EFTA Surveillance Authority; she recently defended Norvik and Byko against a major claim relating to alleged cartel activity. Halldór Brynjar Halldórsson is also a key name for competition claims. Gunnar Sturluson's expertise includes advising clients facing investigations by the ICA and working with regulators.

Key clients

Siminn hf.

Norvik hf.

Byko ehf.

Valitor hf.

Eimskipafelag Islands hf.

Brim hf.

Ölgerðin Egill Skallagríms hf.

Arctic Adventures hf.

Work highlights

  • Representing Norvik and Byko in their joint appeal to the largest ever fine imposed by the ICA for alleged cartel activity.
  • Defending Siminn against a claim by Vodafone Iceland relating to alleged breaches of competition law, and acting in a counterclaim for damages.
  • Advising Brim on a possible merger notification relating to its acquisition of 34% of the share capital of HB Grandi.

ADVEL Attorneys at Law

ADVEL Attorneys at Law has particular expertise in state aid disputes in the banking sector, which is a key area of strength for practice head Dóra Sif Tynes; Tynes previously worked as a legal officer at the EFTA Surveillance Authority and was head of legal services at the EFTA Secretariat. The group's broader offering includes acting in market manipulation claims and damages claims, and handling merger approvals before the Competition Authority.

Practice head(s):

Dóra Sif Tynes

Key clients

The Icelandic Government

Arion bank

Advania Group

Reitir Real Estate

N1 hf.

Mannvit Engineering

Stræto bs.

City of Reykjavik




Juris' competition team frequently acts for claimants and defendants in abuse of dominance cases, and has further expertise in challenges to exemptions granted by the Competition Authority. Beyond these two consistent work streams, the team is also active in cross-border project finance matters involving state aid issues. Supreme Court attorney Andri Árnason has expertise in competition disputes and jointly leads the practice, which recently recruited associates Hildur Þórarinsdóttir, who was formerly at the Icelandic Data Protection Agency, and Sigrún Magnúsdóttir. Co-head Stefán A. Svensson frequently represents a diverse pool of clients in competition disputes, including abuse of dominance claims and disputes before the Post and Telecommunications Authority.

Key clients

Íslandspóstur hf.

Síminn hf.

Já hf.

Borgun hf.

Eimskip Ísland hf.

Birgir Þór Bieltvedt

Work highlights

  • Defended Íslandspóstur in a competition claim brought by Póstmarkaðurinn regarding alleged market abuse issues.
  • Acting for Síminn in two cases in which it is objecting to exemptions granted to other telecoms operators regarding their cooperation in mobile phone networks.
  • Successfully defended Borgun (one of Iceland’s largest payment acquirers) against a damages claim relating to its alleged abuse of a dominant position and collusion.