Frasers Group has upped its stake in Asos once again, taking a near 20% holding in the fashion business.

Mike Ashley’s empire increased its shares in the online retailer from 18% to 19.3% on Friday as it continues its investment spree.

In addition to Asos, the retail group also upped its stake in Boohoo Group to 7.8% in July.

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Frasers Group also holds a 22.2% stake in AO World forming a “strategic partnership” and has assumed an 11.1% in Currys.

The group said in June that “driving growth through strategic investments [was] a core part of Frasers’ DNA”.

“Under Michael Murray’s leadership, we continue to build on our long track record of establishing supportive shareholder positions in attractive retail companies.

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