(Reuters) – British sportswear and fashion group Frasers Group has increased its stake in online fashion retailer ASOS to 25.13% from 24.21%, a stock exchange filing showed on Friday.
With the latest stake purchase, Mike Ashley’s Frasers Group has now consolidated its position as the second-largest shareholder in ASOS, behind Denmark-based fashion firm Bestseller A/S, according to LSEG data.
Bestseller, owned by Danish billionaire Anders Holch Povlsen, had raised its stake in ASOS on Thursday to 28% from 27.1% through a subsidiary called Aktieselskabet.
Under UK acquisition rules, when an investor acquires a 30% or more stake in a company, it initiates a compulsory requirement to extend an offer to the rest of the shareholders.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Krishna Chandra Eluri)
