London (IFN) UK department store chain House of Fraser has been approached by Iceland's Baugur Group, according to UK media reports.
House of Fraser was forced to admit over the weekend it had received a preliminary bid approach, but didn't say who from, several UK newspapers said on Monday.
However, it is widely believed to be Baugur, which has been building a stake in the company.
Baugur last month bought a 9.5% stake in House of Fraser for GBP28 million.
Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.