It’s unclear whether talks are still ongoing; the FT suggests that the upmarket store decided not to pursue a deal with the potential Qatari buyers, but City AM’s story is more open-ended, suggesting a deal may still be in the offing.
Qatar has been on a retail spending spree of late. Last month, Qatari investors bought French department store chain Printemps for around $2.64 billion. And earlier this year, it increased its majority stake in US Jewellery chain Tiffany’s.
Also, in the past year and a half, Qatar’s sovereign wealth fund, which is estimated to be worth more than $200 billion, has also invested in UK’s the Shard, France’s LVHM and Paris Champ Elysees and Germany’s Porsche.
House of Fraser has a huge high street presence in the UK, with more than 60 branches nationwide.
The store has not commented on the reports.
Credit: Photo by Gene Hunt