By  on December 30, 2008

LONDON — Baugur Group’s estimated $2 billion of debt — which the Icelandic investment company has been struggling with following the collapse of the country’s banking system — appears to be staying within Iceland’s borders.

Baugur said Monday that it has “been in talks with its relationship banks regarding the restructuring of the company, with the aim of maximizing the long-term value of its assets and [to] dispel any uncertainty regarding the future.”

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