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Frasers lifts stake in Boohoo to over 20%
(Sharecast News) - Mike Ashley's Frasers Group lifted its stake in Boohoo again on Thursday, to more than 20%. According to a regulatory filing, Frasers upped its stake to 21.49% from 17.22%.
Russ Mould, investment director at AJ Bell, said: "Whether this move will translate into anything more than brand collaboration remains to be seen but this latest stake building will do nothing to dull the speculation.
"The fast fashion play looks vulnerable with the shares trading at a fraction of highs seen three years ago."
Frasers - which owns Sports Direct, House of Fraser and Flannels, among others - has also built stakes in Asos, AO World, Currys, N Brown and Hugo Boss.
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