Frasers Group lifts stakes in AO World, Currys
Currys
81.65p
08:24 08/11/24
-0.49%
-0.40p
Mike Ashley's Frasers Group has increased its stake in electrical retailer AO World for a third time to more than 22% and also lifted its stake in rival Currys, according to stock exchange filings on Monday,
AO World
105.60p
08:14 08/11/24
-0.19%
-0.20p
Frasers Group
761.00p
08:25 08/11/24
-0.59%
-4.50p
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08:24 08/11/24
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The company, which owns Sports Direct and House of Fraser, among other chains, earlier this month spent
£75m on just under 19% of AO. The shares had been held by scandal-hit hedge fund Odey Asset Management.
A few days later, Frasers Group increased its holdings to just over 21%. The latest move consolidates its position as AO's largest shareholder, ahead of Camelot Capital Partners which holds 20.4%.
The stake in Curry’s was lifted to 9.83% from a previous 8.9%.
Reporting by Frank Prenesti for Sharecast.com