Baugur may sell retail chain

Baugur is considering selling a number of its retail interests over the summer as it looks to realise value from its British shopping spree. The group has never sold any of its UK retail chains in the four years it has been an active investor in the sector.

To date, the company has made money by refinancing its operations. However, Gunnar Sigurdsson, managing director of Baugur's retail division, said that the group could start to offload assets in the summer. "Perhaps in the months to come we will be in a position to do something.

We are constantly evaluating our portfolio and improving value how we can," he said. Last week, Baugur filed an £850m indicative offer to buy back the Mosaic conglomerate - which includes the Oasis and Warehouse chains - that it floated on the Icelandic Stock Exchange under two years ago.