More deals ahead for Baugur
Baugur boss Jon Asgeir Johannesson has hinted that he intends to bid for House of Fraser within the next few weeks, according to newspaper reports today.

Speaking at a meeting of Icelandic entrepreneurs in London yesterday, Johannesson said he wants to make more UK deals this year than last, 'if all we have on the table goes to plan'.

Early last month, speculation rose about a possible takeover of House of Fraser, when Baugur bought a 9.5 per cent stake in the department store group.

Early this month, House of Fraser revealed that it has received a 'very preliminary' approach that may lead to an offer for the company. The group did not say who had made the approach.

Baugur has a strong presence on the UK high street. It owns names such as Oasis, Karen Millen and Hamleys. It also has a 10 per cent stake in Woolworths and a 14 per cent holding in French Connection.

Yesterday's meeting, attended by Iceland's president Olafur Ragnar Grimsson, was designed to promote trade links between the UK and Iceland.

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