Iceland in Middle East sale talks

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The Independent Online

The owners of frozen-food retailer Iceland are reportedly in talks with Middle East investors over a potential £1.5bn sale of the high street retailer.

A consortium headed by the Global Banking Corporation of Bahrain is holding early-stage discussions over a takeover of the group. It is thought the move could trigger interest from founder and chief executive Malcolm Walker, who already owns 24 per cent of the business.