Frasers Group topped up its stake in Asos and Boohoo once again this week as it continues to move in on the online retailers.
Mike Ashley’s retail group, which is now the largest shareholder in Boohoo, raised its shares in the fast fashion retailer from 17% to 22%.
Frasers also increased its interest in Asos for the third time this month to 25.9%. It became the etailer’s second-largest shareholder last year.
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The retail group has been steadily building its holdings in both retailers since it first made a “strategic investment” into Boohoo back in June.
While it has not been officially confirmed, chief executive Michael Murray fuelled takeover speculations late last year when he described the group’s investments into Asos and Boohoo, as well as Currys and AO, as “mid-flight”.
Murray told The Telegraph earlier this month: “All I can do is talk about how it looks very obvious afterwards.
“[Luxury department store] Flannels was an acquisition, and now it seems normal that Flannels is a part of Frasers Group. And Game, you think: why would you buy 30% of Game? Afterwards, it’s all very obvious.”
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