It seems that the story has changed through the day, but that is rather unambiguous and undiplomatic language, even for someone who may be "tired and emotional" after thrashing out a rescue plan all night long.
Meanwhile other Icelandic banks have had their UK assets transferred to ING.
The interest rate cut will suit me nicely - provided IF pass it on to their customers. (There was an announcement from Halifax today that their SVR would be reduced but I'm never sure whether that automatically applies to IF or not).
I had a quick look, but I couldn't find Iceland for sale on eBay. Surely it can only be a matter of time.