Looks like you're right. The original Vivaldi code is a BSD-style license, and although I didn't check all the dependencies, it seems to be mostly Chromium + lots of original code.
Vivaldi Technologies AS.
A Browser For Our Friends
Copyright 2017 Vivaldi Technologies AS. All rights reserved.
Vivaldi is made possible by the Chromium open source project and other open source software.
Vivaldi Terms of Service
and vivaldi://terms
Vivaldi End User License Agreement
Last updated: November 18, 2016
1. This End User License Agreement ("EULA") governs your use ("You") of the browser software in executable form ("Software") and any ancillary services ("Services") provided to You by Vivaldi Technology AS ("Vivaldi") to the exclusion of all other terms and conditions. Source code used in the Software, under open source license agreements, can be obtained at https://vivaldi.com/source.
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