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A consortium of investors led by the Global Banking Corporation Bahrain Gulf is supposed to be in talks with officials to hold the assets of two collapsed Icelandic banks, Landsbanki and Glitnir, which feeds the Iceland 76pc. Active banks are are supervised by the Icelandic Government because they were called to administrators.

It was reported that Saleh Al Ali Al Rashed, President of global visited London recently, meeting the representatives of the Lloyd S development capital, capital arm deprived of the Lloyd S Banking Group. Lloyd's would not confirm the meeting and overall was unavailable for comment.

It is believed that the move could in turn Iceland, founder and Chief Executive Malcolm Walker, who already owns 24pc society, alongside the other members of the direction interest.

Mr. Walker is known for having made an offer of ￡ billion buying back Iceland earlier this year, which was dismissed. But it can be stimulated to submit a new offer for rival talks.

Dr. Walker founded Iceland in 1970, he construction in a 750-Bank national supermarket chain. He was ousted as President in 2001, but was reinstated to the Board of Directors in 2005 when a private consortium led by Baugur Icelandic Retail Group acquires the Iceland then parent company the Big Food Group 326 million to ￡.

Baugur hit the wall in February last to the Icelandic financial crisis and the issue of command sent to the administrators of Landsbanki and Glitnir. However, property saga the Iceland not damaged his performance, the Group announced a break 19pc profits for the year to March 26.

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