Frasers Group becomes largest shareholder in Asos.
Frasers Group has become the largest shareholder in Asos after lifting its stake in the fast fashion retailer.
Source: Sharecast
Owned by UK billionaire Mike Ashley, Frasers revealed it had increased its stake to 29.26% from 28.42%, just below the 30% that would trigger a mandatory takeover offer under British law.
Frasers has built up significant shareholdings in several retailers, including Debenhams (formerly Boohoo) where he has been in a protracted dispute with management of the rival online clothing brand, along with stakes in AO World and Puma. Ashley also holds 32.2% of German fashion giant Hugo Boss.
Danish fashion group Bestseller, owned by billionaire Anders Holch Povlsen, holds around 28% of Asos, while Camelot Capital Partners holds 15%.
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