Icelandic bank builds up UK presence

A key player in recent takeover activity on Irish and British high streets has lined up a £1bn (€1.4bn) war chest for a major deal of its own, it was reported today.

Kaupthing, the Icelandic investment bank that has advised the acquisitive retail company Baugur on a number of deals, is looking to build up its presence in the UK after recently opening a London office.