Frasers Group Raises AO World Stake to 25%
(Reuters) -British sportswear and fashion group Frasers raised its stake in online electrical retailer AO World to 25%, a regulatory filing showed on Tuesday.
Frasers Group, which is majority owned by billionaire Mike Ashley, previously held a 24% stake in the company.
Frasers has been ramping up its investments in global retailers. It picked up another 25% stake in fashion retailer ASOS and is working on a mandatory bid for Norwegian sporting goods retailer XXL ASA.
Under UK acquisition rules, an investor with a stake of 30% or more has to make a mandatory offer to the shareholders of the company.
(Reporting by Yamini Kalia in Bengaluru; Editing by Anil D'Silva)
