June 5, 2011 / 1:51 PM / 8 years ago

Asda planning Iceland Foods bid-report

LONDON, June 5 (Reuters) - Asda, the British arm of U.S. retailer Wal-Mart (WMT.N) has appointed Lazard to put together a bid for British frozen food retailer Iceland Foods, The Sunday Times newspaper said.

A spokesperson for Asda declined to comment on the report, saying the company did not comment on market speculation.

Last month officials responsible for winding up failed Icelandic bank Landsbanki appointed UBS and Bank of America-Merrill Lynch to auction a 67 percent stake in Iceland Foods, which passed to the bank following the collapse of Icelandic investment group Baugur. [ID:nWLA1018] (Reporting by Adveith Nair; Editing by Greg Mahlich)

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