Icelandic group buys another 1.88 per cent stake
Baugur has increased its holding in general merchandiser Woolworths to 8.06 per cent, after buying 1.88 per cent of the stock in less than a week.
The holding consolidates its position as Woolworths' biggest shareholder, with its shares worth about£46.8 million. The move will fuel rumours that Baugur is preparing to launch a full-blown bid for Woolworths.
Baugur has a strong UK focus and already owns 30 businesses internationally, including UK high street names Oasis, Karen Millen, Jane Norman, Hamleys and Iceland. Last month it announced profits of£257 million for last year.
However, despite its record for acquisitions, Baugur has previously built significant stakes in several UK retailers before selling those holdings for a profit.
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