Frasers Group has increased its stake in THG after it acquired a near 5% stake in the ecommerce giant.
The Mike Ashley-controlled retail giant snapped up a 4.8% shareholding in the business earlier this week following the news that THG expects to return to growth later this year after the spin-off of its Ingenuity technology platform.
Frasers previously bought £10m in THG’s shares as part of a “strategic investment” following the online group’s £95.4m fundraising round late last year.
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The two companies struck up a multi-year partnership in June, which saw the online group integrate the Frasers Plus credit offer into its Ingenuity platform while Frasers snapped up its luxury brands business Coggles.
The Sports Direct owner is currently going head to head with Boohoo, of which it holds a 28.1% stake in, as it looks to oust its senior leadership team.
Frasers accused the fashion giant of making undisclosed payments worth £2m to Umar Kamani, the son of Boohoo’s co-founder and executive vice chair, Mahmud Kamani.
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