Mike Ashley’s Frasers Group has solidified its position as Boohoo’s largest single shareholder as it ups its shareholding once again.
The Mike Ashley-controlled retail giant has increased its stake in the online fashion retailer from 21.4% to 22%, according to a new filing with the London Stock Exchange. This comes on the back of its last share buy in January, where it grew its share from 17% to 22%/
As it stands, Frasers Group’s stake is now almost 10% higher than that of Boohoo co-founder Mahmud Kamani.
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The retail group has been steadily building its holding in Boohoo since it first made a “strategic investment” back in June last year.
Frasers Group chief executive Michael Murray fuelled takeover speculation late last year when he described the group’s investments into Boohoo, as well as Asos, Currys and AO, as “mid-flight”.
Murray told The Telegraph: “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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