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Is House of Fraser stake for sale or not? Monday, 14th May 2012
Photo credit: My Retail Media
Despite rubbishing claims that it is preparing to sell its stake in House of Fraser, reports are still circling that Landsbanki’s share in the department store could be up for sale, and has received interest from at least two investors.
The Daily Mail originally reported on Saturday that bidding had begun on Landsbanki’s HOF shares, with one Middle Eastern investor having made an approach to purchase the stake.
But as My Retail Media reported on Sunday, spokesperson for Landsbanki Pall Benediktsson told Icelandic press MBL that its stake in House of Fraser would not be put up for sale, citing the rocky conditions of the UK’s retail sector.
During the interview Benediktsson went on to state that the Daily Mail “wrongly suggests” that the Icelandic group is considering a sale, and that Landsbanki is “not anwhere near to thinking of selling its stake”.