// Frasers lifts stake in AO World to 22.2% and Currys to 10.4%

// It comes as the group looks to build its presence in the electricals industry

Frasers has upped its stake in AO World and Currys as it continues its acquisition spree.

The Mike Ashley owned group raised its holdings in the Bolton-based online electrical retailer for the third time this month to 22.2% from 21.3%.

It also lifted its shareholdings in Currys to 10.4%, which it said last week was part of a “strategic investment” as it looks to increase its “foothold in the electricals industry”.

READ MORE: Frasers Group: What does the retail giant own?

Earlier this month, Frasers acquired a 19% stake in AO World as part of a £75m investment into the retailer.

The shares were previously held by Odey Asset Management, which is currently dealing with misconduct allegations against its founder Crispin Odey.

The recent investments come as former director Mike Ashley has been hired as a consultant to advise the group on supply chain and operations.

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