Bank to keep Frasers stake
HOUSE of Fraser has confirmed that Icelandic bank Landsbanki will keep its major stake in the chain.
The Jenners owner said it had held "very positive discussions" with Landsbanki – which took control of the assets of retail investor Baugur after it fell into administration.
House of Fraser added that the bank had no plans to sell its 35 per cent share in Highland Group Holding, the Baugur-led consortium which owns House of Fraser.
In a statement, House of Fraser said: "Landsbanki reiterates that it has no intention of selling on shares in Highland Group Holding in the foreseeable future."
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Monday 21 May 2012
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