Curiouser and curiouser. A report in an Irish newspaper suggests that Bakkavör may be looking to buy Greencore and merge it with the former Geest business after two Icelandic brothers were said to have secretly built an 8% stake in the sandwich and own-label business. But how did the newspaper learn of the estimated 8% stakeholding in the first place? Or of another investor - said to be the ubiquitous Robbie Tchenguiz - taking similar contracts for differences? Since these CFDs allow investors to invest secretly, the newspaper must have received a tip-off from somewhere. And since it's understood that the stakes have been held for as much as six months, is it not possible that the tip was designed to up Greencore's share price ready not for an acquisition but for a sale or to avoid a margin call? And here's another question. Icelandic banks and Icelandic investment vehicles have bought huge swathes of the UK retail industry in recent years. With retail in the doldrums, how exposed are they to the credit crunch?

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