ICELAND: Police Raid Baugur HQ In Fraud Probe
Retail entrepreneur Philip Green's £850 million bid for UK fashion giant Arcadia took a bizarre twist on Thursday when police probing fraud allegations raided the Icelandic headquarters of its biggest shareholder, Baugur. Detectives swooped on the Reykjavik-based company's offices late on Wednesday and questioned its chairman, president and chief executive as part of investigation into its relationship with US wholesaler Nordica Inc.
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