Norway farmed salmon shares shed millions in value as aquaculture tax talks stall

Norway's key salmon shares sunk sharply on the Oslo stock exchange Tuesday as talks over a deal on the country's aquaculture tax broke down.

The Conservative party (Hoyre in Norwegian), Christian Democratic party (Kristelig Folkeparti or KrF) and the Liberal party (Venstre) announced mid-day they were abandoning the government's talks on its proposed aquaculture tax.

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The governing parties, the Labor Party and the Center party, were willing to lower the tax rate to 30 percent, but the drop was not enough to satisfy the three opposition parties, who wanted to cut the tax further.