UK retailer House of Fraser to float by end of year

British department stores group House of Fraser expects to be listed by the end of the year even as it remains in exclusive talks regarding a potential takeover by its French counterpart Galeries Lafayette, the Times of London reported the chief executive officer of the department store chain as saying.

"We kicked it off before Christmas," CEO John King was quoted as saying by the British newspaper and said they expected a listing before the end of year.

King refused to talk about negotiations with the Galeries Lafayette and said the company remained focused on the IPO, according to the newspaper.

The 160-year-old group has spent almost 10 years under private ownership, but has been considering a return to the stock market after previous attempts at a possible trade sale failed.

The group had said on Thursday that a surge in online sales had helped it to its best ever Christmas trading period.