iceland interested in Woolworths

  • sami
  • 10/10/08 31/05/09
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Posted: Mon, 01/12/2008 - 15:06

I'm encouraged by this news I've just seen, "Iceland interested in Woolworths". Surely if Iceland has the funds to buy this chain, then it cannot be completely broke.

Would this potential purchase make us all shareholders in Woolies?

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Iceland Interested in Wooles

  • gazfuk
  • 12/10/08 31/05/09
  • unspecified
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  • Mon, 01/12/2008 - 16:03

Mate,

Don't get too excited. I think it means Iceland, the frozen food shop.


Unless...

  • gazfuk
  • 12/10/08 31/05/09
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  • Mon, 01/12/2008 - 16:05

You were joking, in which case I now look like a bit of a n*bhead.


Mum's gone to Iceland

  • sami
  • 10/10/08 31/05/09
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  • Mon, 01/12/2008 - 16:15

I thought we all needed a bit of a laugh gazfuk. It made me smile when I saw that news yesterday and pictured Geir Haarde making a trip to look a Woolies.


Icelandic Irony

  • expatvictim
  • 10/10/08 01/11/10
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  • Mon, 01/12/2008 - 19:13

Funny -but maybe nearer the truth and closer to the bone than you possibly realise:

Iceland (the supermarket) is effectively owned by Baugur (the Icelandic investment company that owns half of the UK high street)

Baugur is a (the??) major shareholder in Woolies (bad investment that one!!)

Iceland (read Baugur ? ) approached to buy Woolies in August - but bid was rejected

Bauger had financial backing from - yes you guessed it - Kaupthing (not necessarly for the Woolies purchase - but who knows given their track history).

Kaupthing or an investor through KSF reportedly had a separate shareholding in Woolies

All seems a bit nepotistic . At least Woolies rejected the Iceland approach earlier this year - one less potential loss for Kaupthing to write off if they were funding it.


Nice one Sami

  • gazfuk
  • 12/10/08 31/05/09
  • unspecified
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  • Mon, 01/12/2008 - 16:37

Maybe he can afford a trip to Woolies or Iceland. We're on economy burgers, 20 for 99p at Farmfoods.