UBS called in as BFG admits to mystery bidder

UBS, the Swiss-American investment bank, has been hired to advise the Big Food Group following disclosure on Friday that the UK-listed owner of Iceland frozen food shops is in takeover talks with an unnamed suitor.

UBS is retained financial adviser to the group and joint-broker to BFG with Citigroup. The investment bank declined to comment on its appointment, which was confirmed by a spokeswomen for the retail group.

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